TechFlow news, December 20 — Animoca Brands released its unaudited financial results for the second and third quarters of 2024. Data showed that the company's total revenue reached $69 million in Q3, representing a 43.8% increase quarter-on-quarter and a 165% year-on-year growth. Revenue was primarily driven by three business segments: Digital Asset Advisory (DAA) contributed $25 million, Web3 operations generated $39 million, and investment management brought in $5 million.
As of the end of September 2024, the company maintained a strong asset position, holding $248 million in cash and stablecoins, and $330 million in liquid digital assets (including $218 million in assets available for sale and $112 million in unlocked tokens), primarily consisting of ETH, BTC, and APE. Additionally, the company holds off-balance-sheet token reserves valued at $1.6 billion, including SAND, EDU, MOCA, REVV, TOWER, and GMEE. The company's MOCA token launched on South Korea’s leading exchanges Upbit and Bithumb on December 16, achieving over $2 billion in trading volume on its first day. Since the conclusion of the U.S. general election in November 2024, the value of the company’s crypto assets has increased by approximately 40%, while trading revenue has doubled.
Operating expenses in the third quarter amounted to $59 million, a 13.5% increase quarter-on-quarter, mainly due to one-time advisory fees associated with the MOCA token issuance in July. The company currently holds minority stakes in over 530 portfolio companies, with operations spanning multiple well-known projects such as The Sandbox, Mocaverse, Open Campus, Anichess, and GAMEE.
