Metaverse and GameFi Animoca Brands Will Go Public

Yat Siu, co-founder and executive chairman of Animoca Brands mentioned that the public offering could occur as early as 2025. The aim is to attract more institutional attention, aligning with their vision of promoting mass adoption of Web3 technologies.  

Siu believes that large companies that go public can scale up more effectively. He thinks listing Animoca Brands in the right market will grow their business. It will also expand the entire Web3 space. 

Preparations for a Second Public Listing 

The company has begun talks with investment banks but has yet to finalize an adviser or specific location. This will be their second attempt at going public. It follows their delisting from the ASX due to governance concerns and involvement with crypto-related activities.  

In December 2019, the ASX raised questions about the company’s governance and use of simple agreements for future equity (SAFEs) in its subsidiaries. Despite submitting a detailed report to address these concerns, Animoca Brands was delisted on March 9, 2020. 

Despite the delisting, Animoca Brands continued its operations without significant disruption. By using Automic, the company’s share registry, shareholders were able to maintain ownership of their shares. They may have sold shares privately as well. Siu called the delisting from ASX a “blessing.” He pointed out that the company’s expansion would have been constrained by Australia’s regulatory environment. 

Siu explained that Animoca Brands is already familiar with public market pressures and opportunities. The company listed on the ASX in 2015 before delisting in 2020. Over the last four years, the company has grown considerably as a public unlisted company. Siu believes that listing on a public market suited for their industry will help them achieve their full potential. 

Strategic Expansion and Future Prospects 

As of its last fundraising round in 2022, Animoca Brands was valued at $5.9 billion. The company continues to explore avenues for expansion and shareholder value creation. The upcoming public offering aims to secure a platform aligned with its activities in the GameFi and metaverse spaces. 

Choosing the right location for their next public listing is crucial for Animoca Brands. Both Hong Kong and the Middle East offer regulatory environments that support cryptocurrency ventures.  

These regions provide a more accommodating home for the company’s ambitious plans. Animoca Brands’ journey highlights the challenges and opportunities within the cryptocurrency gaming and metaverse sectors. This emphasizes the importance of regulatory alignment for growth and success.