According to TechFlow, Animoca Brands announced an investor update for the fiscal year ending December 31, 2023. The report shows that operating expenses for fiscal year 2023 were $246 million, an increase from $234 million in the previous year. The company has a cash and stablecoin balance of $175 million, and digital assets held on the balance sheet are approximately $203 million, of which approximately 70% are a combination of BTC, ETH, APE, and MATIC.
In addition, Animoca Brands and its subsidiaries have off-balance sheet token reserves of approximately $1.6 billion, including approximately $930 million in liquid tokens and $665 million in low-liquidity tokens, including SAND, EDU, REVV, TOWER, GMEE, etc. The company has made minority investments in more than 450 portfolio companies, and the total amount of funds raised through the issuance of equity and convertible notes in fiscal 2023 was $83 million.
