Animoca Brands Consolidated Assets Hit $3.4B
Animoca Brands released on April 30 an unaudited interim financial statement, estimating its consolidated assets at $3.4 billion.
This asset structure was composed of cash and cash equivalents ($194 million), liquid digital assets, including SAND ($566 million), and tokens of subsidiaries Web3-companies ($2.7 billion).
Animoca Brands further promised to release updates starting with their 2020 Audited Financial Statement, and to present key financial and business numbers for 2022 and the first quarter of 2023.
This comes after speculation arose that the firm was in a state of financial distress, which was denied the day after Reuters reported that Animoca Brands had cut the goal of their metaverse fund by 20%, and had seen a three-fold decrease in their valuation from $6 billion to $2 billion.
Nevertheless, CEO Robbie Jung still maintains that it could take a minimum of 10 years to create the metaverses.