Animoca Brands wants to go public next year in a crypto-friendly jurisdiction, the Information reported on June 26, citing company co-founder Yat Siu.
According to the report, the Hong Kong-based company, which was valued at $5.9 billion in the 2022 fundraising round, has started discussions with investment banks but is yet to appoint a formal advisor for the listing process.
Siu revealed that the company is evaluating potential IPO locations, with Hong Kong and the Middle East being the main contenders. He added:
“We believe these regions offer vibrant markets and strategic advantages that align with our vision for growth and innovation in digital assets.”
Animoca Brands has carved out a significant niche in the Web3 ecosystem by investing in several high-profile projects, including the popular blockchain-based gaming platform Axie Infinity, the decentralized TON network and the innovative digital payment application hi.
Siu has been an advocate for the transformative potential of non-fungible tokens (NFTs) and believes they can revolutionize sectors such as rights management and education by entrenching digital ownership and value.
The company’s investment strategy aims to leverage the potential of blockchain technology to create new economic models and opportunities in the digital world.
Removal from Australia
Despite its current success, Animoca Brands has faced challenges along its journey. The company was previously listed on the Australian Securities Exchange (ASX), but was delisted in March 2020 due to several regulatory violations. This delisting prompted the company to reconsider its strategy and seek alternative avenues for growth and capital raising.
Looking ahead, Animoca Brands is poised to capitalize on the growing interest in digital assets and blockchain technology. The potential IPO in 2025 represents a strategic move to increase market presence and leverage its extensive investment portfolio.
The company’s decision to go public comes at a time when the global financial landscape is increasingly embracing digital assets. As regulations evolve and investor interest in blockchain technology increases, Animoca Brands aims to position itself at the forefront of this digital revolution.
The upcoming IPO is expected to provide the company with additional resources to fuel its expansion and innovation efforts.