Animoca Brands has published the financial and operational report for 2024, highlighting the projects that contributed the most.  Â
This update highlights significant growth, driven by optimization strategies, new partnerships, and an expansion in the Web3 sector.Â
The results include contributions from various operational units of the company, such as 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 revenues from Web3 services and investments.
Financial performance and growth of Animoca Brands
According to the latest financial report, in 2024, Animoca Brands recorded bookings totaling 314 million dollars, an increase compared to 280 million dollars the previous year. The last quarter of the year showed a particularly marked increase, with 108 million dollars in bookings, marking a 170% increase compared to 40 million dollars in the same period in 2023.
This success was primarily driven by the expansion of the Digital Asset Advisory (DAA), which generated 165 million dollars, with an annual growth of 116%. The Web3 operating activities also contributed 110 million dollars, while the investment operations brought in 39 million dollars.
Operating expenses have decreased thanks to a series of optimization measures, going from 246 million dollars in 2023 to 217 million dollars in 2024, marking a decline of 12%. This positive trend was also reflected in the fourth quarter, where operating expenses fell from 58 million dollars in 2023 to 49 million dollars, with a saving of 15%.Â
Furthermore, the company closed the year with solid liquidity, boasting 293 million dollars in cash and stablecoins, 538 million dollars in digital assets and minority investments valued at 564 million dollars. Additionally, the off-balance sheet token reserves amount to 2.9 billion dollars, with assets like SAND, EDU, MOCA, and GMEE.
Expansion in the Web3 and gaming sectors
Animoca Brands has strengthened its presence in the Web3 sector thanks to the growth of the Digital Asset Advisory (DAA). During 2024, the company provided consultancy to 21 Web3 projects, including PIXEL and PENGU, generating 68 million dollars solely from token advisory activities. Additionally, the business recorded 97 million dollars from market making activities, treasury management, blockchain node operations, and trading strategies.
One of the pillars of Web3 development has been Moca Network, which has consolidated its role in decentralized digital identity thanks to the MOCA Coin token. Throughout the year, Moca Network has formed strategic partnerships, including an agreement with Square Enix to support the SYMBIOGENESIS project and a collaboration with SK Planet, one of South Korea’s leading technology platforms. Thanks to this agreement, over 28 million verified users will be able to access Web3 services. Confirming the success of the project, Moca Network has raised 10 million dollars in additional funding and has seen MOCA Coin listed on Upbit and Bithumb, two of South Korea’s largest exchanges.
Open Campus also recorded significant progress in 2024, expanding its decentralized educational ecosystem. Among the most relevant initiatives was the creation of the EDU Scholarship Fund, which distributed up to 1,000 dollars in EDU credits to students. Additionally, Open Campus launched EDU Chain, a Layer 3 blockchain on Arbitrum Orbit, with 2.3 million active wallets and 116 million transactions. By the end of the year, the number of registered users exceeded 850,000, with a growth of 578% in the last quarter alone.
In the gaming sector, Anichess, developed in collaboration with Chess.com, launched the Alpha version of its game, recording over 100,000 monthly active players. At the same time, GAMEE continued its expansion into Web3 gaming, launching GAMEE AdNetwork, a tokenized advertising platform that executed 17 advertising campaigns in Q4. Additionally, GAMEE sold over 250,000 Founders Packs of Moon Cards, generating 701 million WATCoin.
One of the flagship projects, The Sandbox, hosted the Alpha Season 4, attracting 580,000 unique players and completing 39 million quests, with a total of 1 million hours of gameplay. The season featured participation from iconic brands such as Attack on Titan, Chupa Chups, Playboy, and The Smurfs.
Animoca Brands: investment strategy and future growth
Animoca Brands has strengthened its investment portfolio, closing 2024 with over 540 projects funded in sectors such as AI, Web3 infrastructure, DeFi and gaming. During the fourth quarter alone, the company invested in 12 new projects, including 0G Labs, Cookie3, and MyShell. The growing focus on artificial intelligence has resulted in investments in AI tokens, including Virtuals, ai16z, and Griffain.
The overall value of the company’s private investments stood at 564 million dollars, down from 690 million dollars in 2023. This decline is due to a series of events, including the success of several token offerings, the sale of some equity stakes, and write-downs due to the business performance of certain assets.
Appointment of the new auditor and AI innovations
At the end of the year, Animoca Brands appointed Hall Chadwick as the new auditor, replacing DFK Collins. The new auditing firm brings extensive experience in managing digital assets and regulatory compliance.
In parallel, the company has strengthened its initiatives in the field of artificial intelligence with Virtuals.io and FLock.io, two projects aimed at the development of decentralized AI applied to Web3. Additionally, the HeyAni project has been launched, an AI for venture capital that will provide automated advice to entrepreneurs and investors in the blockchain sector.
The year 2024 turned out to be a year of expansion and consolidation for Animoca Brands, with a strong increase in revenue, significant growth in Web3 and gaming, and a smart investment strategy. With new initiatives underway, 2025 promises to be a year full of opportunities, with a growing focus on AI, blockchain, and the metaverse.