Metaverse and blockchain gaming company Animoca Brands has revealed that the value of its treasury has more than quintupled in just two months.
From January to September 2021, other income, which includes gains from more than 100 investments and digital assets in its portfolio, was $529.6 million.
Animoca co-founder and chairman Yat Siu wrote to the Metaverse and NFT community on Dec. 9 that the company’s tokens REVV (REVV), The Sandbox (SAND), Tower (TOWER) and GAMEE (GMEE) saw big gains.
"The value of the digital asset reserves of Animoca Brands' product and platform ecosystem has risen from approximately $2.9 billion at the end of September 2021 to approximately $15.9 billion at the end of November 2021, a more than five-fold increase in just two months."
Each of these tokens is a blockchain GameFi or Metaverse project. GameFi refers to projects involving games, NFTs, and decentralized finance (DeFi).
To illustrate how much the two main assets held by Animoca, REVV and SAND, have risen in price, Siu explained that their combined monthly trading volume is second only to Greenland’s GDP in 2020. The combined trading volume of the two tokens is now equivalent to the 2021 GDP of Morocco or Slovakia, which is about $120 billion.
The letter also reveals Animoca's philosophical leanings in its investment selection process. Siu said the Animoca team believes that "true digital ownership is the foundation that underpins the entire open metaverse."
"We don't see digital equity and inclusion as options; we see them as essential requirements."
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