In Brief:
- The Founder of Animoca Brands revealed that its treasury increased in value by more than 5 times in just two months.
- The value of overall digital reserves has risen from US $2.9 billion to about US $15.9 billion.
- Siu compared the combined monthly trading volume of REVV and SAND with the 2021 GDP of Morocco or Slovakia.
Yat Siu, the Founder of Animoca Brands, has revealed that its treasury increased in value by more than five times in just two months. He shared its progress report in crypto space.
Animoca’s letter to Metaverse and NFT community also states that the stack of tokens including REVV (REVV), The Sandbox (SAND), Tower (TOWER), and GAMEE (GMEE), had seen a big increase thanks to increasing values in the sector.
All these tokens are a blockchain GameFi or metaverse project. GameFi refers to projects that involve gaming, NFTs, and Decentralized Finance (DeFi).
As a result, the value of overall digital reserves has risen from what was US $2.9 billion at the end of September 2021 to about US$15.9 billion at the end November 2021.
Along with its own tokens and subsidiaries, the CEO said that even the tokens issued by the many projects that the firm has invested in accounts to the daily trade volume is US $3 billion.
Talking of other income, investments and digital assets for the first 9 months of 2021 grew to approximately US $529.6 million, as the statement suggests.
To illustrate just how much Animoca’s two primary holdings, REVV and SAND, have increased in price, Siu explained that their combined monthly trading volume stood just behind the 2020 GDP of Greenland a year ago. The combined trading volume of those two tokens is now comparable to the 2021 GDP of Morocco or Slovakia, roughly $120 billion.
Siu also said the Animoca team believes “that true digital ownership is the foundational block underpinning the entire open metaverse.”
Terming the year as “Annus Mirabilis”, Animoca Brands has rather set out a positive tone to its announcement.
It is also noteworthy that just a few days ago, Binance Smart Chain (BSC) and Animoca Brands had announced the $200 million investment program. The objective of this partnership is to develop cryptocurrency-based gaming projects with the “play-to-earn” model on BSC.
