Animoca Brands generated $314 million in revenue last year, with consulting department income surpassing Web3 business for the first time

ChainCatcher news, according to CoinDesk, Animoca Brands' latest financial report shows that the company's total revenue for 2024 is expected to be $314 million, a year-on-year increase of 12%. The focus of the business has significantly shifted, with its Digital Asset Advisory (DAA) department surpassing traditional Web3 operations for the first time as the main source of revenue. In 2024, the consulting department contributed $165 million in revenue, a year-on-year increase of 116%; while revenue from traditional gaming and NFT operations was $110 million, a decrease of about 40% compared to $182 million in 2023; investment income and risk management fees contributed $39 million.

Despite private investment holdings decreasing by 18% from $690 million to $564 million (affected by token unlocks, equity exits, and asset write-downs), Animoca Brands' overall balance sheet for 2024 has still strengthened. The company holds $293 million in cash and stablecoins (a year-on-year increase of 67%), $538 million in digital assets (a year-on-year increase of 165%), and $2.9 billion in off-balance-sheet token reserves. Its minority equity investments cover 540 companies, an increase from 450 last year.