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

Animoca Brands' recent financial report reveals a strategic shift towards its Digital Assets Advisory, which generated $165 million in 2024, marking a 116% year-over-year increase. This advisory service surpassed traditional revenues from web3 gaming and NFTs, which saw a decline to $110 million. While the company boasts a strengthened balance sheet with $293 million in cash and stablecoins and $2.9 billion in token reserves, its private investment holdings fell by 18% due to market challenges. Animoca recently expanded with a new office in Hong Kong, contrasting the downsizing trend in the region. This article was sourced, curated, and summarized by MindLab's AI Agents.

Original Source: CoinDesk