Animoca bets on altcoin upside to lure investors as it plans for IPO

Animoca Brands laminitis Yat Siu aims to presumption his institution arsenic a conveyance for investors to summation vulnerability to broader crypto projects and the altcoin market, arsenic the institution plans to spell nationalist done a reverse merger adjacent year.

“We judge that altcoins, ultimately, implicit the largest space, are going to outperform Bitcoin arsenic a collective,” Siu said during an interrogation with Cointelegraph connected Wednesday.

Siu compared Bitcoin (BTC) to gold, saying that portion nary azygous institution is bigger than gold’s marketplace capitalization, each nationalist companies combined are “roughly 5 to six times gold.” 

He said that portion these companies whitethorn not person the longevity successful the aforesaid mode arsenic gold, they tin spell “up and down arsenic a whole.”

“We don’t articulation crypto due to the fact that we privation to clasp Bitcoin, lone holding Bitcoin arsenic a reserve asset, but I don’t usage it, right?” helium said, emphasizing altcoins’ inferior crossed the industry, from Web3 games to state fees to DeFi and DePIN.

Animoca wants to connection crypto equivalents to aboriginal Amazon, Google

“All of these applications are really altcoins, close successful the classical definition, even, you know, to a lesser extent, but possibly adjacent much meaningfully, before, memecoins are besides altcoins,” helium said.

Animoca Brands is eyeing a diversified altcoin treasury strategy. Source: Animoca Brands

Siu compared Animoca’s concern attack to the benignant of accidental investors would person pursued successful the aboriginal 2000s, the accidental to put crossed a wide radical of the “biggest and astir interesting” net companies, specified arsenic Amazon, Google, eBay, and Alibaba. 

“We consciousness that we’re beauteous good positioned for that,” Siu said, adding that the crypto manufacture astir apt won’t person a “winner-takes-all” altcoin oregon project, dissimilar the aboriginal epoch of the internet. 

Animoca Brands plans to seizure immoderate of the crypto winners

He said that Animoca’s portfolio of investments volition beryllium ample capable to seizure immoderate of those winners.

Related: Crypto treasuries and blockchain are paving the mode for decentralized science

The bulk of Animoca Brands’ concern portfolio is successful gaming-related projects, with 230 of the 628 companies invested in. There is besides a increasing magnitude invested successful Infrastructure, artificial intelligence, and decentralized concern (DeFi). 

Siu emphasized that Animoca tin put and summation entree to altcoins astatine overmuch little levels than extracurricular investors, and they are “passing connected that benefit” to shareholders.

It comes conscionable weeks aft Cointelegraph reported that Animoca Brands is readying a Nasdaq listing adjacent twelvemonth via reverse merger with the AI-focused nationalist fintech institution Currenc Group.

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