The blockchain VC firm holds more of its portfolio in digital assets than it does in cash.
Animoca Brands – a blockchain game publisher and venture capital company – has released its investor update for the first four months of 2022. The firm reportedly held over 340 investments worth about $1.5 billion in total.
The report showed $573 million in Animoca’s bookings and other income from January 1st to April 30th.
“Bookings” included token sales, NFT sales, and non-blockchain activities. “Other income” included gains and losses on the company’s investments and digital asset holdings.
Animoca has been a heavy investor in various sectors of the crypto industry. It put $10 million towards the blockchain gaming platform Lava Labs in March and co-led an $88 million series B funding round for Hex Trust days prior.
The company reported a cash balance of just $98 million, compared to $211 million worth of crypto holdings. These holdings included Bitcoin, Ethereum, and a mixture of top stablecoins.
Other digital asset holdings, such as third-party tokens, amounted to $659 million. It also holds $4.2 billion in crypto tokens on reserve (such as SAND, QUIDD, PRIMATE, and others), but these are not included on the firm’s balance sheet.
Animoca partnered with Yuga Labs on the latter’s recently announced Otherside project – a metaverse game built for BAYC.
The company received a $360 million raise in January, led by Liberty City Ventures, Winklevoss Capital, and Soros Fund Management. The raise brought its total valuation to $5.5 billion.
Andrew is content writer with a passion for Bitcoin. He became familiar with Bitcoin back in 2013, but began diligently studying the blockchain technology and its economic implications in 2017. Ever since, he’s believed in the network’s power to replace the current global monetary system, and provide financial freedom to billions worldwide.
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