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Animoca Brands investor update for the period ended on 31 December 2022

28 August 2023 – Animoca Brands Corporation Limited (“Animoca Brands'' or the “Company”)

is pleased to report key unaudited financial and business highlights for fiscal year 2022 (“FY2022”).


These results include contributions from the Company’s key business units including The Sandbox, GAMEE, nWay, Blowfish Studios, Grease Monkey Games, REVV Motorsport, TOWER, Quidd, Lympo, and Forj (formerly Bondly), in addition to Web3 service revenue arising from portfolio investments and partnerships.

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Key financial highlights as of 31 December 2022 (non-IFRS measures)

  • Bookings of A$594 million (approximately US$402 million) for the 12 months ending on 31 December 2022 (1). This compares to total bookings of A$428 million (approximately US$291 million) for the prior 12 months ending on 31 December 2021. Bookings (2) include token sales, NFT sales, and other non-blockchain activities. 

  • Cash and stablecoin balances of A$286 million (approximately US$191 million).

  • Liquid digital assets of A$690 million (approximately US$469 million), which includes reserves of SAND, the utility token used in The Sandbox platform.

  • Off-balance sheet token reserves for all other Animoca Brands majority-owned Web3 subsidiaries of A$2.4 billion (approximately US$1.6 billion).  These reserves include the Animoca Brands tokens PROS, ASTRAFER, QUIDD, PRIMATE, REVV, TOWER, GMEE, and others.

  • Minority investment portfolio of over 380 portfolio companies.

  • The Company recently released 2020 audited financial statements and is working on completing 2021 audited financial statements.

Key business highlights

  • Acquisitions: Animoca Brands completed acquisitions of 6 companies during 2022, including Grease Monkey Games, a Melbourne-based developer of high-quality motorsports games; Life Beyond Studios (previously known as Darewise), a game developer founded by veterans of the AAA games industry; Notre Game, a game development and publishing company known for Scratch Wars; TinyTap, the leading edtech platform for user-generated educational games; Be. (previously known as Be Media), an Australian digital marketing agency focusing on key opportunities in Australia centered around blockchain development; and PIXELYNX, a music metaverse gaming platform founded by musicians and technologists deadmau5 (Joel Zimmerman) and Richie Hawtin (Plastikman) along with music and gaming industry veterans.

  • New business line: In 2022 Animoca Brands launched a Web3 services business to advise Web2 and Web3 companies on implementing tokens and NFTs into their business models. Animoca Brands has accrued extensive experience in this area since 2018, having implemented tokens and NFTs in various of its own games and subsidiaries. The Company seeks to be the leading service provider for Web2 companies looking to expand into Web3 and for Web3 companies looking to improve the performance of their token and NFT projects. The Company’s Web3 services contributed approximately US$120 million of total bookings in 2022. 

  • New leadership: Animoca Brands appointed several new personnel to senior management positions in 2022, including Alan Lau as chief business officer, Minh Do as co-chief operating officer, Jared Shaw as chief financial officer, Jamii Quoc as head of legal - commercial and M&A (promoted to deputy general counsel in 2023), Josh Du as head of digital assets portfolio, and others.

  • Major product developments: Phantom Galaxies, an open-world mech combat game developed by Animoca Brands’ subsidiary Blowfish Studios, raised US$19,300,000 from its heavily oversubscribed Planet Private Sale; subsidiary TinyTap launched and sold its first Publishers NFTs for 138.926 ETH (approximately US$228,000 at time of sale). Mocaverse, Animoca Brands’ official PFP NFT collection, was launched in December 2022 to strengthen Animoca Brands’ ecosystem of Web3 and metaverse-centric projects.

Animoca Brands will host an Investor Day in Sydney on 11 September 2023 starting at 9:45 a.m. (AEST). For details please refer to the announcement of 25 August 2023. Please note that the Investor Day is an in-person event only. Interested investors can RSVP by 4 September 2023 at the link

Note 1

On 6 June 2022, the Company reported unaudited, non-IFRS bookings and other income of A$827 million (approx. US$573 million) for the four months ended on 30 April 2022. The other income comprised A$523 million (approx. US$350 million) of unrealized gains on digital assets. Bookings reported above as of 31 December 2022 do not include unrealized gains/losses on digital assets. The Company plans to report digital asset balances more frequently in the future, and will not include unrealized gains or losses in interim financial updates.


Note 2

“Bookings” is a non-IFRS measure of the total sales activity of the Company and is commonly used by companies in the gaming sector to more effectively represent economic performance. It represents the total sales activity of the Company combining revenue reflected on the income statement and deferred revenue, which is a liability on the balance sheet. Deferred revenue is an accounting concept that represents payments received for sales that have not yet been earned. It generally applies to digital assets sold in the Company’s games and applications. Although the Company collects payment for these sales, it is not able to recognize them as revenue on the income statement because there is an obligation to provide services within those games and applications in the future. As services are provided over time, deferred revenue will be recognized as revenue.

About Animoca Brands

Animoca Brands, a Deloitte Tech Fast winner, a Fortune Crypto 40 company, and one of the Financial Times’ High Growth Companies Asia-Pacific 2023, is a leader in digital entertainment, blockchain, and gamification that is working to advance digital property rights and contribute to the establishment of the open metaverse. The company develops and publishes a broad portfolio of products including original games such as The Sandbox, Phantom Galaxies, Life Beyond, Crazy Kings, and Crazy Defense Heroes, and products utilizing popular intellectual properties including Disney, WWE, Snoop Dogg, The Walking Dead, Power Rangers, MotoGP™, and Formula E. It has multiple subsidiaries, including The Sandbox, Blowfish Studios, Quidd, GAMEE, nWay, Pixowl, Forj, Lympo, Animoca Brands Japan, Grease Monkey Games, Eden Games, Life Beyond Studios, Notre Game, TinyTap, Be., PIXELYNX, and WePlay Media. Animoca Brands has a growing portfolio of over 450 Web3 investments, including Colossal, Axie Infinity, OpenSea, Dapper Labs (NBA Top Shot), Yield Guild Games, Harmony, Alien Worlds, Star Atlas, and others. For more information visit or follow on Twitter or Facebook.


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