Hong Kong-based gaming firm Animoca Brands announced Wednesday that its bookings (total sales and income generating activity) rose to $314 million in 2024, from $280 million a year ago.
The firm said in a statement that among the bookings, $165 million from the Digital Asset Advisory (DAA) business, representing a notable increase of 116 percent year on year, as the company diversified its revenue streams.
Meanwhile, $110 million from Web3 operating businesses of subsidiaries and projects incubated by the company, which include blockchain-based sales, in-app purchases, and other non-blockchain sales.
$39 million was in investment activity, which includes realized gains from digital asset investments and investment management fees from Animoca Ventures.
As for the fourth quarter of 2024, Animoca Brands’ bookings jumped to $108 million from $40 million a year ago, representing a 170 percent increase in bookings year on year.
$57 million was from DAA, while $37 million, and $14 million were from Web3 operating businesses and investment management, respectively.
It is noted that the company’s DAA business provides Web3 projects with token advisory, tokenomics, marketing, listing advisory, node operation, and trading services.
Over the course of 2024, the firm provided advisory services to 21 successful Web3 projects, including PIXEL and PENGU, generating a total of $68 million in token advisory revenues.
The company also generated $97 million of revenue from ongoing market-making, treasury management, blockchain node operations, and yield-generating trading strategies.
Animoca Brands has also been investing in Web3 projects and technologies since 2018, and this strategy has significantly helped the company to gain deep industry expertise and exposure.
As of the fourth quarter of 2024, the firm held over 540 investments in its portfolio, including investments made from the company’s balance sheet, its venture fund Animoca Ventures, and various accelerator partnerships.
In the fourth quarter of 2024, the firm invested in 12 new projects, bringing the total number of investments made during the year to over 70.
These investments span over 20 sectors, including artificial intelligence (AI), infrastructure, decentralized finance (DeFi), and gaming. Notable investments include 0G Labs, Cookie3, FLock.io, MyShell, and Talus.
The company has also focused its efforts on the AI sector in 2024 by investing in liquid tokens of AI-themed projects, including Virtuals, ai16z, Aixbt, Griffain, and HeyAnon.
Animoca Brands is a Web3 firm that leverages tokenization and blockchain to deliver digital property rights to consumers to establish the open metaverse and its associated network effects.
The results include contributions from the company’s business units, including but not limited to The Sandbox, Moca Network, Open Campus, Anichess, GAMEE, TinyTap, Animoca Brands Japan, nWay, Eden Games, Blowfish Studios, Pixowl, and Crazy Defense Heroes (TOWER), in addition to Web3 services revenue and revenue arising from portfolio investments and partnerships.
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