Animoca Brands has released its latest financial update, showing bookings of $280 million for fiscal year 2023, compared with $402 million for 2022.

The company boiled down reasons for the decrease to the crypto winter starting in May 2022 with Luna/Terra’s collapse, culminating in FTX’s collapse in November 2022.

Despite the down trend however, performance showed an improvement towards the end of 2023, with an increase of 59% during Q4 2023.

Summarized, Animoca ended the period with: 

• Cash and stablecoin balances of $175 million,
• Digital assets worth $203 million, and
• Off-balance sheet token reserves for Animoca Brands and its subsidiaries of $1.6 billion.
• Additionally, total capital raised from equity and convertible note issuance was $83 million during 2023.

Notably, the company has already released a financial report for Q1 2024, with more recent numbers showing the company had assets worth at least $2.7 billion.