Animoca Brands Eyes Public Listing Amid Altcoin Market Expansion

According to Cointelegraph, Animoca Brands founder Yat Siu is positioning his company as a gateway for investors to access a broader range of crypto projects and the altcoin market. The company plans to go public through a reverse merger next year. Siu expressed confidence in altcoins, suggesting they will collectively outperform Bitcoin over time. He likened Bitcoin to gold, noting that while no single company surpasses gold's market capitalization, the combined value of all public companies is significantly higher. Despite the volatility of these companies compared to gold, Siu emphasized the utility of altcoins across various sectors, including Web3 games, gas fees, decentralized finance (DeFi), and decentralized physical infrastructure networks (DePIN). Siu highlighted Animoca Brands' strategy to offer investment opportunities akin to those available during the early 2000s with major internet companies like Amazon, Google, eBay, and Alibaba. He believes the crypto industry will not have a singular dominant altcoin or project, unlike the early internet era. Animoca Brands aims to capture some of the successful ventures within the crypto space through its extensive investment portfolio. The company has invested in 628 companies, with a significant portion focused on gaming-related projects. Additionally, there is growing investment in infrastructure, artificial intelligence, and DeFi. Siu noted that Animoca Brands can invest in altcoins at lower levels than external investors, providing shareholders with the advantage of accessing these opportunities. This development follows Cointelegraph's recent report on Animoca Brands' plans for a Nasdaq listing next year via a reverse merger with the AI-focused public fintech company Currenc Group. The move is part of Animoca's broader strategy to expand its presence in the altcoin market and offer investors exposure to diverse crypto projects.