TechFlow news, March 5 — According to CoinDesk, Animoca Brands’ latest financial report reveals a significant shift in its business focus. The company’s Digital Assets Advisory (DAA) division has surpassed its traditional Web3 operations to become the primary revenue source for the first time. In 2024, the advisory division generated $165 million in revenue, an increase of 116% year-on-year, while revenue from traditional gaming and NFT businesses reached $110 million, down approximately 40% compared to $182 million in 2023. Investment gains and risk management fees contributed $39 million.
Despite a 18% decline in private investment holdings from $690 million to $564 million—due to token unlocks, equity exits, and asset write-downs—Animoca Brands' overall balance sheet strengthened in 2024. The company held $293 million in cash and stablecoins (up 67% year-on-year), $538 million in digital assets (up 165% year-on-year), and $2.9 billion in off-balance-sheet token reserves. Its minority equity investments spanned 540 companies, up from 450 the previous year.
