Web 3 firm Animoca Brands is preparing to go public in
2025, potentially in key financial hubs in Hong Kong or the Middle East, The
Information reported. The company, renowned for its investments in NFTs and
crypto gaming, is currently in talks with investment banks but has yet to
finalize an adviser, according to Co-founder Yat Siu.
Nearly $6B Valuation
This decision followed a period of significant growth
and a boost in valuation, with the company being valued at $5.9 billion during
its last funding round in 2022. Siu has disclosed that the firm has been in
discussions with several investment banks. However, they have not yet appointed
an official adviser to guide them through the IPO process.
Animoca Brands has a robust portfolio, focusing
primarily on non-fungible tokens (NFTs) and crypto gaming companies. This focus
has positioned Animoca as an important player in the digital asset space. The
decision between Hong Kong and the Middle East as potential venues for the IPO
will be crucial.
Currently, Hong Kong offers proximity to Animoca’s
significant market in Asia and a well-established financial infrastructure. On
the other hand, the Middle East, particularly hubs like Dubai and Abu Dhabi,
presents a rapidly growing market with increasing interest in digital assets
and blockchain technology.
Expect ongoing updates as this story evolves.
This article was written by Jared Kirui at www.financemagnates.com.
