Animoca Brands Valuation Plummets 75% to $15 Billion

Crypto Conglomerate Faces Market Downturn

NFT Market Decline Weighs on Company Value

Animoca Brands, a prominent crypto conglomerate, has witnessed a significant decline in its valuation, dropping by more than 75% in the past two years to approximately $15 billion, according to recent reports.

This downturn in valuation mirrors the decline in the broader NFT markets, where trading volumes have fallen drastically from $6 billion in July 2022. Yat Siu, the executive chairman and co-founder of Animoca, confirmed that the company's secondary shares are currently trading at $15 billion.

As a key player in the cryptocurrency and blockchain industries, Animoca Brands has been heavily impacted by the recent market downturns. The company's investments in NFTs and blockchain-based gaming projects have contributed to its valuation loss.

This valuation drop reflects the challenges facing the crypto industry amid the bear market. As the value of cryptocurrencies and NFTs continues to fluctuate, companies within the sector are likely to experience further volatility in their valuations.