Animoca Brands Sees Bookings Rise 72% in Q1 Despite Market Downturn, Plans ASX Reentry

Animoca Brands published its first-quarter investor update on July 10. The bottom line up front: Bookings are up significantly for Q1 year-over-year.

Animoca Brands (ASX: AB1) has published its first-quarter investor update, revealing a significant increase in bookings compared to the previous year.

The Web3 gaming and venture capital (VC) company reported bookings of $90 million for Q1 2024, up 72% from the previous year’s $52 million.

Breaking the bookings down, Animoca Brands reported $65 million from digital asset advisory, which includes “token advisory, trading, and blockchain node operations,” $19 million from its Web3 subsidiaries and startup partnerships, and $6 million from investment management.

The uptick in bookings over the first quarter of 2023 is bolstered by a 14% reduction in operating costs. The company posted operating expenses in the amount of $64 million for Q1 2023; it’s reporting $55 million for Q1 2024.

The company notes that, despite these numbers, its total “cash and stablecoin assets” increased by 66% during Q1 2024:

The company may be shoring up its coffers ahead of an anticipated reentry into the Australian Securities Exchange.

Animoca Brands had been listed on the market previously but delisted its stock in 2020 amid regulatory uncertainty. As Cointelegraph reported in June 2024, the company is weighing a 2025 reentry.

Meanwhile, The Sandbox continues to grow despite the 2022 market downturn. The Animoca Brands subsidiary recently raised $20 million against a valuation of $1 billion after announcing the onboarding of over 330,000 unique creators.

They join the company’s reported 5.7 million users — gauged by linked wallets — who’ve created or participated in more than 1,000 “experiences” built on the platform.

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