Animoca Brands is valued at $1.5 billion in the secondary market, down 75 per cent from July 2022

Aug. 9 (Bloomberg) -- Animoca Brands reportedly had nearly $3.3 billion in cryptocurrency, cash, stock and other assets as of March, according to the company's first-quarter financial results. However, investors in the secondary market are not impressed.Animoca executive chairman and co-founder Yat Siu said the company's secondary market is trading at a valuation of about $1.5 billion. That's nearly 75 per cent lower than Animoca's valuation in July 2022, when the company announced it had raised $75 million at a valuation of $5.9 billion.

Siu's estimate of Animoca's current trading value is similar to that of Bulletin, which grabs secondary market data about cryptocurrency companies from brokers, trading platforms, and other sources.Bulletin estimates that Animoca is currently valued at about $1.3 billion in the secondary market.