Advisory overtook Web3 businesses at the Animoca Brands in 2024 as company pivots
The latest financial report of the Animoca Brands’ shows a move to the company’s focus, with the Web3 Giant Run reporting that the Digital Assets advisory has released its traditional source of income.
The company’s advisory unit formed $ 165 million in 2024, a 116% year-to-year increase. According to a release, this division provides web3 projects with token advisory, tokenomics, marketing, listing advisory, node operations, and trading services.
Animoca said it generated $ 110 million in bookings from web3 businesses – the traditional gaming territory and NFT – while $ 39 million derived from investment acquisitions and adventure management fees.
This web3 business change reflects approximately 40% year-to-year collapse from the $ 182 million it reported last year.
Generally, the company seems to have strengthened its balance sheet in 2024, holding $ 293 million in cash and stablecoins, $ 538 million in digital properties, and $ 2.9 billion in off-balance-sheet tokens reserves.
Its minority investments have reached $ 564 million over 540 companies, reflecting a 67% increase in cash reserves and a 165% increase in digital asset handling.
While the number of investments in the portfolio increased to 540 out of the 450 mentioned, private investment handling of Animoca dropped 18%, falling from $ 690 million to $ 564 million, due to token unlocks, equity release, and weight-based writing.
Late last year, Animoca opened a big new office In Hong Kong – the abstinence of a city trend that has seen tradfi companies decrease and reduces headcount as well as square footage.
