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Animoca Brands sees $314M in bookings with AI cost savings

Animoca Brands sees $314M in bookings with AI cost savings

GrafaGrafa2025/03/06 06:10
By:Mahathir Bayena

Animoca Brands, a blockchain gaming and investment firm, reported a significant increase in bookings for 2024, reaching $314 million.

This represents a 12% year-over-year rise from $280 million in 2023.

The company's growth was driven by its Digital Asset Advisory (DAA) business, which saw a remarkable 116% increase in bookings to $165 million.

The DAA's success highlights Animoca Brands' strategic shift towards advisory services, leveraging its expertise to support portfolio companies.

This pivot is part of a broader strategy to diversify revenue streams beyond traditional gaming and NFT sales.

In addition to the DAA, Animoca Brands' subsidiaries and incubated projects contributed $110 million in bookings, while investment activities added $39 million.

The company's Web3 operating businesses experienced a 40% year-over-year decline, reflecting this strategic shift.

Animoca Brands also reported a 12% reduction in operating expenses, from $246 million in 2023 to $217 million in 2024.

This cost savings was achieved through optimisation efforts and the implementation of artificial intelligence tools, which have been integrated into various aspects of the business, including investment decisions and cost optimisation.

Yat Siu, Animoca Brands' co-founder and executive chairman, expressed optimism about future growth, citing a more favorable regulatory environment in the U.S. as a key factor.

Siu emphasised the importance of long-term market trends despite potential economic risks.

The company's financial strength is further underscored by its cash and stablecoin reserves of $293 million and digital asset holdings of $538 million.

Animoca Brands continues to expand its portfolio, with minority investments totaling $564 million across 540 companies.

As Animoca Brands looks to the future, it is exploring new initiatives, including a stablecoin project with Standard Chartered and Hong Kong Telecommunications.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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