Unveiling a banner year in financial growth and business diversification, Animoca Brands Corporation Ltd has released its unaudited financial results and major business highlights for the fiscal year ending December 31, 2022.
Notably, the firm posted a remarkable increase in bookings to A$594 million, up from A$428 million in the previous year, while also acquiring six new companies and entering the Japanese market.
Animoca reported robust financial performance across its wide range of business units, including The Sandbox, GAMEE, nWay, Blowfish Studios, Grease Monkey Games, REVV Motorsport, TOWER, Quidd, Lympo and Forj (formerly known as Bondly).
The report also incorporated revenue generated through Web3 services, realised from portfolio investments and various partnerships, comprising revenues from token sales, NFT sales and other non-blockchain activities.
In addition to its impressive bookings, the company's cash and stablecoin balances totalled A$286 million with liquid digital assets, inclusive of reserves of the SAND utility token used in The Sandbox platform, were valued at A$690 million.
Meanwhile, off-balance sheet token reserves for Animoca’s majority-owned Web3 subsidiaries stood at A$2.4 billion.
Capital-raising front
On the capital-raising front, Animoca Brands executed equity and convertible debt fundraising in 2022.
The equity capital was raised in two distinct tranches, amounting to a combined total of US$434.2 million.
An additional US$110 million was raised through convertible debt.
Significantly, Animoca Brands extended its global reach by launching a Japan-based operation, securing ¥1,100,000,000 (approximately US$10 million) in a January 2022 seed round and an additional US$45 million in August.
Acquisitions and partnerships
The year was also transformative in terms of acquisitions and partnerships. The company acquired a total of six companies, expanding its capabilities and market presence.
These include Melbourne-based Grease Monkey Games, AAA industry veteran-operated Life Beyond Studios, game developer Notre Game, ed-tech firm TinyTap, Australian digital marketing agency Be. and music metaverse platform PIXELYNX.
Adding a new dimension to its business, Animoca initiated a Web3 services division, contributing approximately US$120 million to total bookings.
This division aims to advise Web2 and Web3 companies on integrating tokens and NFTs into their respective business models.
Product launches
New product launches and developments also added to the company’s stellar performance.
Subsidiary Blowfish Studios raised US$19.3 million for its new game Phantom Galaxies.
TinyTap launched and sold its first Publisher NFTs, raking in approximately US$228,000. The company also debuted Mocaverse, its official PFP NFT collection, in December 2022 to further solidify its Web3 and metaverse-centric initiatives.