The post Animoca Brands Valuation Is Now Just $1.5 billion on Secondary Market appeared on BitcoinEthereumNews.com.

Key Points: Animoca Brands valuation is $3.3 billion, but its secondary market valuation is around $1.5 billion, down from $5.9 billion in July 2022. The drop in Animoca’s value reflects a broader downturn in the NFT market, with trading volumes falling from $6 billion to $430 million. In the first-quarter financial results of Animoca Brands, as of March, the company held almost $3.3 billion in digital currencies, cash, stocks, and other kinds of assets, DL News reported. Read more: Animoca Brands Listing in Hong Kong Before 2025 Is Being Promoted Animoca Brands Valuation vs. Secondary Market Valuation Diverge The situation is totally different on the secondary market, where the valuation stands at much lower levels when it comes to Animoca Brands. Animoca Brands valuation is now about $1.5 billion on the secondary market, according to Yat Siu, the company’s executive chairman and co-founder. It has lost nearly 75% from its peak valuation in July 2022, when it notched a valuation of $5.9 billion after raising $75 million. On this point, Siu’s estimate is correct, with market data provider Bulletin pegging Animoca Brands at a secondary market valuation of approximately $1.3 billion. Bulletin sources these numbers from brokers and trading platforms, thereby showing similar sentiment in the markets. Animoca Aims to Rectify Valuation Inconsistency Any secondary market is generally less liquid compared to major exchanges like the NYSE, and quite often these inconsistencies are noted. On the back of the general decline in the price of an NFT, it has been that the Animoca Brands valuation has fallen. While crypto markets have rebounded from the crash in 2022, NFT trading volume has continued in freefall, tumbling to just $430 million in July from $6 billion in January 2022, according to CryptoSlam. On the bright side, as he suggests, Siu stays optimistic…

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Filed under: News - @ August 10, 2024 2:12 am