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Hong Kong blockchain gaming firm Animoca sets sights on recovery after listless 2023
Animoca said its cash and stablecoin balance declined to US$175 million at the end of 2023, from US$194 million as of April 30 last year.
Still, the company’s situation appears to have recovered in the first quarter this year, according to its financial statement.
Bookings in the first three months of the year jumped 72 per cent to US$90 million, up from US$52 million in the same period last year. Its cash and stablecoin balance also increased to US$291 million at the end of March.
Bitcoin prices, for example, have risen 30 per cent since the beginning of this year, despite dropping 14 per cent over the past month amid another crypto sell-off. The first and most commonly traded cryptocurrency reached a record-high of US$73,000 in March.
Based in Cyberport, Animoca has said that it is “confident” of returning to the public market, possibly in Hong Kong or the Middle East, as early as late next year, the South China Morning Post reported last month. Founded in 2014, the company was delisted in Australia in March 2020 amid scrutiny of its cryptocurrency activities.
That listing plan, however, is still at an early stage, as Animoca has not yet hired an adviser for a potential initial public offering, co-founder Yat Siu said last month.
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