Animoca Brands shines in 2022, not holding back on fundraising and acquisitions during the crypto winter

The Sandbox's parent company Animoca Brands has released its 2022 annual financial update, with over a thousand employees focusing on Web 3 and the metaverse. Despite the crypto winter in 2022, the company continues to fundraise and acquire, showing impressive performance!

2022 Annual Financial Indicators

• Total sales, including token sales, NFT sales, and other non-blockchain activities: AUD 594 million, approximately USD 402 million, compared to AUD 428 million, approximately USD 291 million in 2021
• Cash and stablecoin balance: AUD 286 million, approximately USD 191 million
• Liquidity of digital assets: AUD 690 million, approximately USD 469 million, including reserves of the SAND token used on The Sandbox platform
• Reserves of tokens from other Web3 subsidiaries of Animoca Brands total AUD 2.4 billion, approximately USD 1.6 billion. These reserves include tokens such as PROS, ASTRAFER, QUIDD, PRIMATE, REVV, TOWER, and GMEE
• Minority equity investments in over 380 portfolio companies

2022 A Year of Aggressive Fundraising and Acquisitions

Despite being dubbed the crypto winter of 2022, Animoca Brands managed to secure significant funding due to its reputation. In 2022, Animoca Brands conducted two rounds of equity financing totaling USD 359 million and USD 75.32 million respectively, in addition to issuing USD 110 million in convertible bonds. Furthermore, Animoca Brands expanded its operations to Japan, establishing Animoca Brands Japan and raised JPY 1.1 billion, approximately USD 10 million in January 2022, and raised USD 45 million in August 2022.

In addition, Animoca Brands completed the acquisition of six companies in 2022

• Racing game developer Grease Monkey Games based in Melbourne
• Game developer Life Beyond Studios, formerly known as Darewise
• Game development and publishing company Notre Game, known for Scratch Wars
• Educational technology platform TinyTap
• Australian digital marketing agency Be, formerly known as Be Media
• Musical metaverse gaming platform PIXELYNX

Animoca Brands' Co-founder and CEO Yat Siu also quoted Nietzsche to describe and inspire the entire team, expressing continued optimism for the future of Web3 and the open metaverse.

Adversity makes one stronger. What doesn’t kill you, makes you stronger.