According to BlockBeats, on September 18, Animoca Brands co-founder Yat Siu said that Hong Kong is a "strong contender" for the company's potential listing.

That’s partly because the company is headquartered in Hong Kong, where digital asset activity has expanded as officials seek to develop a cryptocurrency hub.

But any IPO plans may take "a few more years to really take shape" and the current focus is on growing the business.

Siu told the South China Morning Post last month that privately held Animoca shares were valued at between $1.5 billion and $3 billion on the secondary market. That’s a difference from the $5.9 billion valuation in the 2022 funding round.

Siu said low trading volumes in the secondary market would distort the signal, adding that Animoca Brands was not currently seeking to raise new capital.