Animoca Brands has announced impressive financial results for 2024, with a total of $314 million in bookings, marking a significant 12% year-over-year increase. This growth comes as the company’s co-founder and executive chairman, Yat Siu, expects favorable conditions in the United States to continue driving success through 2025. With a strong push towards a more crypto-friendly environment, Animoca Brands has positioned itself strategically to capitalize on new opportunities.
The term bookings in the gaming industry refers to the total revenue and deferred revenue, which encompasses all payments received as well as potential earnings from contracts yet to be fulfilled. Notably, Animoca Brands has attributed $165 million of its 2024 bookings to its Digital Asset Advisory (DAA) business, representing a remarkable 116% growth compared to the previous year. Subsidiaries and incubated projects contributed $110 million, and investment activities added $39 million to the mix.
The company has emphasized that its growth strategy is supported by ongoing innovation across various sectors. Siu highlighted that despite facing challenges in the traditional market landscape, Animoca Brands continues to expand into emerging areas, including advisory services, real-world assets, and stablecoin initiatives in collaboration with leading financial partners.
- Bookings for 2024: $314 million
- Bookings for 2023: $280 million
- DAA Growth: 116% increase
- Cost Reduction: 12% decrease due to AI
One of the standout achievements noted in this report is the 12% reduction in operating expenses, which declined from $246 million in 2023 to $217 million in 2024. This cost-cutting measure has been largely attributed to AI-driven optimization implemented since the latter half of 2023. Siu remarked that this strategic move was a response to shifting market dynamics and positioned the company to better support its portfolio amid regulatory fluctuations associated with the U.S. market.
Furthermore, the integration of artificial intelligence into various operational aspects has played a pivotal role in increasing efficiency. Animoca Brands utilizes AI for investment decisions, game development, and cost optimization, with Siu revealing the company is actively training AI agents to leverage its in-house expertise for further advancements.
Looking ahead, Animoca Brands is optimistic about sustained growth and resilience in a fluctuating economic landscape. As Siu noted, understanding market trends over the long term, rather than reacting impulsively to immediate concerns, will serve the company well as it navigates through regulatory challenges and seeks out new opportunities.
