Hold onto your hats, crypto enthusiasts, because Animoca Brands is on a roll! This Hong Kong powerhouse is taking the Web3 world by storm, leading the charge with the most investments in October. Known for its gaming roots, Animoca is now diversifying its portfolio like a true trendsetter, diving into the exciting realms of decentralized finance (DeFi), decentralized physical infrastructure networks (DePIN), and artificial intelligence (AI).
Animoca didn't just dabble—they dominated with nine investments last month. They outshone big players like CMS Holdings and Hack VC, who made seven and six investments respectively. It seems Animoca is not just playing games anymore; they're playing the entire Web3 field!
But they weren't alone in the investment frenzy. Celestia's Ekram Ahmed and Helius Labs' Mert Mumtaz were hot on their heels with five investments each, followed by Andreessen Horowitz’s Crypto Startup Accelerator and Anagram Crypto also making their mark with five moves apiece. Even Robot Ventures, Hashkey Capital, and UTXO joined the diversification party, each with five investments, proving that spreading your bets is the name of the game.
Now, here's the kicker: whispers are swirling about Animoca Brands gearing up for a potential public offering! While the exact timing is still under wraps, company chairman Yat Siu hinted that the stars might align based on market conditions. Earlier this year, hints were dropped about a possible listing in Hong Kong or the Middle East, with Hong Kong being a strong contender given the company's roots there.
2023 wasn't all smooth sailing for Animoca, though. Like many in the crypto universe, they weathered a rough patch with layoffs and had to dial back their metaverse dreams, reducing their metaverse fund target from a whopping $2 billion to $800 million. But with a powerful 2024 on the horizon, it looks like Animoca is ready to bounce back bigger and better. Keep your eyes peeled—this is one Web3 journey you don’t want to miss!
