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Sunday, July 14, 2024

NBA Top Shot Investor Reports $573M in Revenue

  • Over the past seven months, Animoca Brands has generated $721 million in revenue.
  • The company holds digital assets reserves of roughly $4.2 billion.
Animoca Brands

Software and venture firm Animoca Brands generated $573 million in revenue over the first four months of 2022. 

The results for the investor in NBA Top Shot and Fan Controlled Football were driven by its diverse portfolio of investments and the sale of NFTs, including those on the secondary market. 

  • Animoca Brands holds digital assets reserves of roughly $4.2 billion.
  • The company had a cash balance of $98 million for the first four months of 2022.
  • Over the past seven months, the company has generated $721 million in revenue

The company also announced a series of acquisitions during the four-month period. 

In February, the company acquired indie game developer Grease Monkey Games. Two months later, it agreed to purchase 70% of Paris-based game developer Darewise Entertainment, which included “Need for Speed” developer Eden Games after Darewise purchased the racing game studio in the same month.

Animoca BrandsBig Boost 

The NBA Top Shot investor, which has more than 340 investments totaling over $1.5 billion, raised $360 million in new funding in January, valuing the Hong Kong-based company at $5.4 billion

To date, the company has raised roughly $700 million in total capital.

Animoca Brands could be closing in on another financial boost from private equity firm KKR & Co. The firm is in talks to lift Animoca’s latest funding round from $360 million to $500 million.

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