Bookings Rise to $314 Million in 2024
Animoca Brands has reported a 12% year-on-year increase in bookings, reaching $314 million in 2024. The growth has been attributed to continued innovation, expansion into new sectors, and a shifting regulatory landscape in the United States.
Bookings, a key financial metric in the gaming sector, represent the sum of revenue and deferred revenue, including payments received and potential sales from unfulfilled contracts. The company’s Digital Asset Advisory (DAA) business accounted for the largest share, contributing $165 million—marking a 116% increase over the previous year.
Meanwhile, Animoca Brands’ subsidiaries and incubated projects generated $110 million in bookings, while its investment activities brought in $39 million. This marks a notable improvement from 2023, when total bookings stood at $280 million.
Crypto-Friendly US Fuels Growth Outlook
Co-founder and executive chairman Yat Siu expects Animoca Brands to continue its growth trajectory into 2025, driven by both its innovation efforts and evolving crypto regulations in the US.
Siu highlighted the company’s expansion into real-world asset (RWA) projects and a stablecoin initiative developed in partnership with Standard Chartered and Hong Kong Telecommunications. He believes that the improving regulatory climate in the US could further support growth, despite concerns such as potential economic risks and tariffs introduced by former President Donald Trump.
The DAA business was the company’s fastest-growing segment, with Siu describing it as a “practical demonstration of the benefits and power of Web3’s shared network effect.” He explained that Animoca launched its advisory business to leverage its expertise in supporting portfolio companies, a strategy that has proven highly successful.
AI-Driven Cost Reductions
Alongside revenue growth, Animoca Brands reported a significant reduction in operating expenses. The company’s costs fell by 12% from $246 million in 2023 to $217 million in 2024, thanks to ongoing optimisation efforts and the adoption of artificial intelligence (AI) tools.
Siu stated that these cost-cutting measures were introduced in response to shifting dynamics in both the crypto and global markets. He noted that Animoca Brands had placed less emphasis on the US market in 2024, citing regulatory struggles faced by other companies. Instead, the firm focused more on supporting businesses within its portfolio.
AI has played a key role in the company’s operations, being integrated into investment decisions, game development, and cost optimisation. Siu added that Animoca is even training AI agents using the company’s in-house experience and expertise, further enhancing efficiency.
With strong financial performance and continued innovation, Animoca Brands remains optimistic about its future prospects, anticipating sustained growth in the years ahead.
