**Animoca Brands Crypto-Conglomerate Faces Massive Valuation Drop**

**Web3 Giant Suffers Major Market Loss**

Web3 venture capital firm Animoca Brands has taken a significant hit in the secondary markets, with its shares plummeting by more than 75% in just two years. According to executives, secondary shares of the company are currently trading at around $15 billion.

Animoca Brands, a leading player in the cryptocurrency and blockchain space, has been heavily invested in non-fungible tokens (NFTs), the metaverse, and other Web3 projects. The firm has attracted significant investments from venture capital funds and high-profile corporations.

However, the recent downturn in the cryptocurrency market has sent shockwaves through the Web3 industry. Animoca Brands has not been immune to these losses, and its heavy investments in speculative assets have contributed to its current valuation drop.

The company has also faced criticism for its aggressive acquisition strategy, which has led to concerns about its financial sustainability. Animoca Brands has acquired over 340 companies in the past two years, and some analysts have questioned the rationale behind these acquisitions.

Despite the recent market turbulence, Animoca Brands remains optimistic about the future of Web3. In a recent statement, the company said it is "confident in the long-term growth potential of the blockchain industry." However, it remains to be seen whether the company can weather this current storm and emerge as a leader in the post-crypto crash era.