Animoca Brands Reports $7.34M Revenue Amid Pandemic

July 9, 2020      Vandana Malik

Animoca Brands which is well known to develop blockchain-powered games has recently announced that the firm has gained record revenue during the COVID-19 pandemic. According to the report, the firm was able to gain $7.34 million in revenue just in the first four months of the year 2020. In the first three months of the year, the firm was able to gain $4.33 million in revenue. While it has gained $3 million in the month of April only and this has been considered as a record revenue of the firm.

Animoca Brands Held $6.08M in crypto and fiat assets

In the report, it has also been mentioned that by the end of April, Animoca Brands has been holding $6.08 million in both crypto and fiat assets. Currently, the company is holding Bitcoin, Ether and many other altcoins. According to the firm, the reason behind such increase in crypto holdings is the successful sales which involved various non-fungible tokens in it. Yat Siu, the founder of Animoca has discussed the strategy of his firm to acquire different gaming companies. Through this, the firm will help them to make use of blockchain technology and how it can prove beneficial to them. He believes that blockchain technology has a great potential that needs to be tried out in the gaming industry also.

Gaming became a good source of entertainment during the lockdown

Siu has said that his company, Animoca Brands, got a very impressive response during the lockdown in most parts of the country due to COVID-19 pandemic. However, he is quite concerned that a lot of gamers might drop-off when the pandemic will end and life will start getting normal. But it is quite evident that gaming was one of the most important sources of entertainment for people during this lockdown period. All the gaming industries flourished quite well during this time.

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Vandana Malik
Vandana Malik

Vandana has received Master of Arts degree in English from GEU Dehradun. She is currently working as a content writer with Agio Support Solutions and earlier worked as a sub-news editor at Business News and Information Services Private Limited. She is an enthusiastic content writer and aims to bring a compelling yet informative content to the audience. Meanwhile, enhancing her own knowledge in the cryptocurrency and blockchain industry.