Animoca Brands Corporate Value Plummets by 75% Since 2022 Peak
CryptoNewsTerminal Staff09 Aug, 2024
Animoca Brands Corporate Value Plummets by 75% Since 2022 Peak
Animoca Brands, a leading NFT and blockchain game developer and investment company, has seen a significant decline in its corporate value. According to DL News, the company's value has dropped by approximately 75% since its peak of $5.9 billion in 2022, based on the market price of its shares traded on the secondary market. "When we estimate the corporate value using the price of Animoca Brands shares on the secondary market, we are looking at around $1.5 billion," said Yat Siu, co-founder of Animoca Brands, when announcing the recent first-quarter results. Animoca Brands is considering an IPO, and Siu believes that a successful listing on the stock market could bring its net worth and valuation on the secondary market back in line. "If we had a smooth IPO, this [error] would not have happened," he said.
