Animoca Brands Records Solid Financial Results, Unveils MOCA Coin, and Expands Web3 Ecosystem

Animoca Brands Corporation Ltd has recorded solid financial and operational results for the second (Q2) and third (Q3) quarters of 2024, underpinned by its expanding Web3 ecosystem and strategic investments.

Hong Kong-listed Animoca Brands (ASX:AB1) has unveiled a strong financial and operational performance for the second (Q2) and third (Q3) quarters of 2024, driven by its expanding Web3 ecosystem and strategic investments.

The company's bookings for Q3 2024 reached US$69 million, up from US$48 million in Q2, bringing year-to-date (YTD) bookings through Q3 to US$209 million.

Animoca's operating expenses stood at US$59 million in Q3, reflecting a rise from US$52 million in Q2 due to one-off costs associated with the launch of MOCA Coin.

As of September 30, 2024, Animoca's asset balances included US$248 million in cash and stablecoins, US$330 million in liquid digital assets and US$1.6 billion in off-balance sheet token reserves.

Animoca's portfolio of more than 530 investments aligns with its long-term commitment to Web3 innovation, the company says.

Operational milestonesAnimoca achieved several operational milestones during the year, including launching the MOCA coin, expanding various Web3 ecosystems and increasing engagement with its GameFi products.

MOCA Coin launch:

MOCA Coin launched on South Korean exchanges Upbit and Bithumb on December 16, 2024, generating more than US$2 billion in 24-hour trading volume.

The token, integral to Mocaverse, marks Animoca's entry into South Korea's dynamic digital asset market.

Mocaverse also recorded 1.8 million Moca IDs claimed and secured more than 30 partnerships by Q3's end.

Web3 Ecosystems:

Mocaverse introduced MagicMoca, a co-branded NFT platform with Magic Eden, enabling curated NFT projects powered by MOCA Coin.

Additionally, Open Campus advanced its education-focused Web3 ecosystem by integrating EDU tokens into the TinyTap learning platform and launching the EDU Chain testnet, which achieved 1.8 million wallets and 67 million transactions.

GameFi Projects:

GAMEE's Telegram game mini-app, WatBird, reported 16 million monthly active users as of September 2024.

GAMEE launched WATCoin on the TON blockchain to enhance engagement.

The Sandbox's Alpha Season 4 release boosted SAND token value by 350%, supported by a US$20 million funding round.

Investment highlightsBy Q3 2024, Animoca realised US$28 million from token-related investments. Notable additions included Pudgy Penguins and Web3 projects Aethir and Gunzilla.

The company also expanded its investment activities through Animoca Ventures and accelerator programs.

A post-election surge in crypto markets drove a 40% increase in Animoca's crypto asset balances and doubled revenue from market-making activities.

With Bitcoin surpassing US$100,000 and growing institutional interest, Animoca is optimistic about the future of its ecosystem.

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