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Animoca Brands reports bookings fell 30% for 2023 fiscal year
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. On 11 March Anichess launched its Season 1 leaderboard ranking players based on points accumulated from solving daily puzzles and collecting Orbs of Power obtained through gameplay and participation in social events. The Sandbox raised US$20 million in convertible notes with two-year maturity and 10% per annum interest from institutional investors including Kingsway, Animoca Brands, TGV, and LG Group, at a valuation cap of US$1 billion.
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