Metaverse and blockchain gaming firm Animoca Brands has revealed that its treasury increased in value by more than five times in just two months.
Other income, which includes gains on the more than 100 investments and digital assets in its portfolio, accounted for $529.6 million from January through Sept. 2021.
Animoca co-founder and chairman Yat Siu’s Dec. 9 letter to the Metaverse and NFT community said that its stack of tokens including REVV (REVV), The Sandbox (SAND), Tower (TOWER), and GAMEE (GMEE), had seen a big increase thanks to surging values in the sector.
“The reserve of digital assets belonging to the Animoca Brands ecosystemof products and platforms has risen from a value of about US $2.9 billion at the end of September 2021 to about US $15.9 billion at the end November 2021 — a more than five-fold increase in only two months.”
Each of these tokens is a blockchain GameFi or metaverse project. GameFi refers to projects that involve gaming, NFTs, and Decentralized Finance (DeFi).
To illustrate just how much Animoca’s two primary holdings, REVV and SAND, have increased in price, Siu explained that their combined monthly trading volume stood just behind the 2020 GDP of Greenland a year ago. The combined trading volume of those two tokens is now comparable to the 2021 GDP of Morocco or Slovakia, roughly $120 billion.
Related: NFT partnerships and protocol integrations boost Tezos, WAX and Aleph.im
The letter also revealed a philosophical bent in Animoca’s selection process for its investments. Siu said the Animoca team believes “that true digital ownership is the foundational block underpinning the entire open metaverse.”
“We do not see digital equity and inclusion as options; we see them as basic requirements.”
Animoca is set to maintain its lead on the NFT and metaverse market as it just launched a $200 million investment program with Binance Smart Chain (BSC). This fund will be used to incubate crypto gaming projects on BSC.
Source: Read Full Article