Animoca Brands' Advisory Overtook Web3 Businesses in 2024 as the Yat Siu-Led Firm Pivots

Animoca Brands reported $314 cardinal successful bookings, up 12% from 2023’s $280 million, arsenic the institution pivoted distant from its reliance connected gaming and NFT sales.

Updated Mar 5, 2025, 1:41 a.m. UTCPublished Mar 5, 2025, 11:00 a.m. UTC

Animoca Brands' astir caller year-end fiscal study shows a displacement successful the company's focus, with the web3 elephantine tally reporting that its Digital Assets Advisory has edged retired its accepted gross source.

The firm's advisory portion generated $165 cardinal successful 2024, a 116% year-over-year increase. According to a release, this part provides web3 projects with token advisory, tokenomics, marketing, listing advisory, node operation, and trading services.

Animoca said it generated $110 cardinal successful bookings from web3 businesses – its accepted territory of gaming and NFTs – portion $39 cardinal came from concern gains and task absorption fees.

This alteration successful its web3 concern reflects an astir 40% year-over-year driblet from the $182 cardinal it reported past year.

Overall, the institution looks to person strengthened its equilibrium expanse successful 2024, holding $293 cardinal successful currency and stablecoins, $538 cardinal successful integer assets, and $2.9 cardinal successful off-balance-sheet token reserves.

Its number investments totaled $564 cardinal crossed 540 companies, reflecting a 67% summation successful currency reserves and a 165% emergence successful integer plus holdings.

While the fig of portfolio investments accrued to 540 from 450 noted, Animoca’s backstage concern holdings dropped 18%, falling from $690 cardinal to $564 million, owed to token unlocks, equity exits, and plus write-downs weighed connected valuations.

Late past year, Animoca opened a ample caller office successful Hong Kong – bucking a inclination successful the metropolis that saw TradFi firms downsizing and reducing headcount arsenic good arsenic quadrate footage.

Sam Reynolds

Sam Reynolds is simply a elder newsman based successful Asia. Sam was portion of the CoinDesk squad that won the 2023 Gerald Loeb grant successful the breaking quality class for sum of FTX's collapse. Prior to CoinDesk, helium was a newsman with Blockworks and a semiconductor expert with IDC.