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Animoca Brands announced a 30% drop in bookings from $402 million in 2022 to $280 million in 2023 due to economic slowdown in the Web3 market and challenges faced by crypto-related businesses following various events. Despite this, 2023 Q4 bookings increased by 59% over the previous quarter.
The unaudited financial highlights for 2023 and quarterly results for March 31, 2024, indicated a boost in performance towards the end of 2023 as digital asset markets strengthened. The company’s key business units, including The Sandbox, TinyTap, and others, contributed to the revenue alongside Web3 services and portfolio investments.
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The bookings in 2023 came from various segments, totaling $280 million, including digital asset advisory activity, sales from subsidiaries and projects, investment activity, and operational expenses of $246 million for the year ending December 31, 2023.
The company reported cash and stablecoin balances of $175 million and digital assets on the balance sheet worth $203 million, with off-balance sheet token reserves totaling around $1.6 billion.
Company assets
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