Animoca Brands, based in Hong Kong, is known for its active investments in the areas of NFT, Web3 and meta-universes. It currently has a secondary market value of $1.5 billion, down nearly 75% from its July 2022 valuation of $5.9 billion after raising $75 million.

The primary reason for this significant decline in value is the significant slowdown in the NFT market, which has not fully recovered from the effects of the 2022 drop. For illustration, in January 2022, the trading volume of non-replaceable tokens reached $6 billion, but by July 2024, the figure had fallen to $430 million.

Animoca Brands CEO, Yat Xueyi, said that despite the difficulties, the company has managed to overcome the effects of the market downturn and is even considering an IPO. In his opinion, if the firm were to go public now, the gap between its asset value and secondary market valuation would be closed.

Animoca Brands has approximately $3.3 billion in assets, including cryptocurrency, equities, fiat funds and other assets, according to reports for the first quarter of 2024.
This week, the company also announced a partnership with Italian car manufacturer Lamborghini, confirming its continued activism and commitment to growing in new directions.