According to Odaily, Animoca Brands has released its financial update for the fiscal year ending December 31, 2023. The company's operating expenses for the 12 months ending December 31, 2023, were $246 million, compared to $234 million for the previous 12 months ending December 31, 2022. The cash and stablecoin balance stood at $175 million.
The digital assets held on the balance sheet were approximately $203 million, of which about 70% were a combination of BTC, ETH, APE, and MATIC. Off-balance sheet token reserves of Animoca Brands and its subsidiaries were approximately $1.6 billion, which included about $930 million of liquid tokens and $665 million of low liquidity tokens. These reserves included Animoca Brands' tokens such as SAND, EDU, REVV, TOWER, GMEE, and others.
The company made minority equity investments in over 450 portfolio companies. The total funds raised through the issuance of equity and convertible notes in the fiscal year 2023 were $83 million.