Animoca Brands reports bookings fell 30% for 2023 fiscal year

1 week ago 52

July 10, 2024 5:00 AM

Animoca Brands' Anichess.

Image Credit: Animoca Brands

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Animoca Brands reported that its bookings dropped 30% from $402 million in 2022 to $280 million in 2023, the company announced today.

The decrease in bookings was mainly due to the slowdown of economic activities in the overall Web3 market and the challenges faced by crypto-related businesses following the FTX scandal, the collapse of Luna and TerraUSD, and similar events connected to the crypto winter that developed in 2022 and persisted in 2023.

The Web3 gaming company issued its unaudited key financial and business highlights for the year ended December 31, 2023, as well as quarterly results for the period ended March 31, 2024. Despite the decrease in bookings year-over-year, performance improved toward the end of 2023 as digital asset markets strengthened, the company said. 2023 Q4 bookings increased 59% over the prior quarter.

These results include contributions from the company’s key business units including but not limited to The Sandbox, TinyTap, Darewise Entertainment, nWay, Eden Games, Blowfish Studios, Gamee, Pixowl, Forj, Grease Monkey Games, Motorverse (previously known as REVV Motorsport), and Crazy Defense Heroes (Tower...

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