Hong Kong Blockchain Gaming Firm Animoca Eyes Recovery After Energy-Saving 2023

Animoca said its cash and stablecoin balance had dropped to $175 million at the end of 2023, down from $194 million as of April 30 last year.

However, according to the financial statement, the company’s situation seems to have improved in the first quarter of this year.

Bookings in the first three months of the year increased 72 percent to $90 million, up from $52 million in the same period last year. Cash and stablecoin balances also increased to $291 million at the end of March.

Bitcoin prices, for example, are up 30 percent since the start of this year, despite falling 14 percent last month amid another crypto sell-off. The first and most commonly traded cryptocurrency hit an all-time high of $73,000 in March. Cyberport-based Animoca said it is “confident” to return to the public marketpossibly in Hong Kong or the Middle East, as early as late next year, the South China Morning Post reported last month. Founded in 2014, the company was delisted in Australia in March 2020, following scrutiny over its cryptocurrency business. That listing plan, however, is still in its early stages, as Animoca has not yet hired an adviser for a potential initial public offering, the co-founder said. Yat Siu he said last month.

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