Animoca Brands, the trending metaverse and blockchain gaming company, has revealed that it has increased its treasury by over five times within 60 days (September end to November end).
Another very solid source that helped in this massive profit is the gains on over 100 investments and digital assets in its portfolio, accounting for around $529.6 million this year till September 2021.
On December 9. Yat Siu, known for his positive attitude towards digital assets, wrote a letter to the NFT and Metaverse community saying that its stack of tokens, including The Sandbox (SAND), REVV (REVV), and GAMEE (GMEE), has seen a huge surge, thanks to the massive increase in metaverse tokens value, marking new highs recently.
On November 29. Sandbox launched an alpha version of its metaverse for special users which resulted in a sudden surge in its token, SAND.
Siu further explained:
“The reserve of digital assets belonging to the Animoca Brands ecosystem of products and platforms has risen from a value of about $2.9 billion by September 2021 end to about $15.9 billion by November 2021 end — a more than five-fold increase in only two months.”
All the tokens here belong to the blockchain GameFi or metaverse on the blockchain. Projects including gaming, NFTs, and Decentralized Finance (DeFi) come under the GameFi class.
SAND and REVV contributed to Animoca Brands’ growth
Siu highlighted that the aggregate monthly trading volume of Animoca’s two primary holdings, REVV and SAND, was just below the 2020 GDP of Greenland a year ago to demonstrate how dramatically their values have risen. The aggregate trading volume of these coins is now around $120 billion, which is similar to Morocco’s or Slovakia’s GDP this year.
Siu has always been a fan of digital assets and recently said that the NFTs are an amazing way to preserve culture and mark memorable events.
The letter to the community further revealed a philosophical turn in Animoca’s investment selection process. The CEO said that the company believes that true digital ownership is the primary block underpinning the whole open metaverse. He stressed the point by saying that the company does not see inclusions and digital equity as options but as basic requirements.
🔥JOIN THECONRISE.COM'S MONTHLY $1000 GIVEAWAY AND FEEL VALUED AS A READER! DON'T MISS OUT! 🔥
