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Animoca Brands, a metaverse and blockchain gaming company, said its treasury has surged in value by more than five times in only two months. The company has had significant success from its early forays into NFT gaming platforms and metaverses that give users digital equity.
Animoca Brands' Treasury Surged by 5X
From January to September 2021, the other income was $529.6 million, which included profits on the company's more than 100 investments and digital assets. In a statement to the Metaverse and NFT community on December 9, Animoca co-founder and chairman Yat Siu said that the company's tokens, including REVV, The Sandbox (SAND), Tower (TOWER), and GAMEE (GMEE), had witnessed a significant gain due to rising sector valuations.
Each of these coins is a GameFi or metaverse project on the blockchain. Siu highlighted that the aggregate monthly trading volume of Animoca's two most significant assets, REVV and SAND, was only below the 2020 GDP of Greenland a year ago to demonstrate how dramatically their prices had risen. The aggregate trading volume of the two tokens is currently around $120 billion, which is similar to Morocco's or Slovakia's GDP in 2021.
Investment Selection Procedure
The letter also disclosed that Animoca Brands' investment selection procedure has a philosophical bent. "True digital ownership is the building stone enabling the whole open metaverse," Siu said of the Animoca Brands team. With a $200 million investment program with Binance Smart Chain, Animoca Brands is poised to continue its position in the NFT and metaverse markets (BSC). This cash will be utilized to help BSC foster cryptocurrency game concepts.