Animoca in preliminary talks to launch IPO in crypto-friendly region at $6 billion valuation

Animoca Brands is looking to go public next year in a crypto-friendly jurisdiction, the Information reported on June 26, citing the firm’s co-founder Yat Siu.

According to the report, the Hong Kong-based company, valued at $5.9 billion in its 2022 fundraising round, has initiated talks with investment banks but has yet to appoint a formal adviser for the listing process.

Siu revealed that the company is evaluating potential IPO locations, with Hong Kong and the Middle East emerging as key contenders. He added:

“We believe these regions offer vibrant markets and strategic advantages that align with our vision for growth and innovation in the digital assets space.”

Animoca Brands has carved out a significant niche in the Web3 ecosystem, investing in various high-profile projects, including the popular blockchain-based gaming platform Axie Infinity, the decentralized TON Network, and the innovative digital payments application hi.

Siu has been a vocal advocate for the transformative potential of non-fungible tokens (NFTs) and believes they could revolutionize sectors like rights management and education by embedding digital ownership and value.

The company’s investment strategy focuses on leveraging blockchain technology’s potential to create new economic models and opportunities in the digital realm.

Australia delisting

Despite its current success, Animoca Brands has faced challenges in its journey. The company was previously listed on the Australian Securities Exchange (ASX) but was delisted in March 2020 due to various rule breaches. 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 enhance its market presence and leverage its extensive portfolio of investments.

The company’s decision to go public comes at a time when the global financial landscape is increasingly embracing digital assets. With regulatory environments evolving and investor interest in blockchain technology on the rise, 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.