Animoca Brands, a leading company in the cryptocurrency gaming and metaverse industry, plans to go public in Hong Kong or the Middle East early next year, according to company co-founder and executive chairman Yat Siu.
The company, valued at a staggering $6 billion in 2022, is known for its significant investments in non-fungible tokens (NFTs) and crypto gaming companies. In particular, Animoca Brands is the developer of the popular virtual world game The Sandbox (SAND) altcoin.
The move marks a significant return to the public markets for Animoca Brands after it was delisted from the Australian Securities Exchange four years ago due to accounting issues. The final location for the potential initial public offering (IPO) has not yet been determined.
Both Hong Kong and the Middle East are emerging as attractive destinations for the company due to their crypto-friendly regulations. These regions are actively adapting their regulations to meet the unique needs of crypto companies, as part of a larger initiative to attract technology firms and expand their capital markets.
The last fundraising round in 2022 valued Animoca at $5.9 billion.
*This is not investment advice.