Animoca Brands Released Their FY2020 Annual Report
In a chairman’s letter to all of its shareholders, Animoca Brands CEO and Founder Yat Siu talked about the positioning of his company. The letter first addresses the challenges Animoca Brands has faced in 2020 in response to the Covid-19 Pandemic and other global market challenges saying: “We want to thank all of our shareholders for their patience. This report has suffered significant delays owing to many factors including in particular the COVID-19 pandemic, which severely impacted our capacity to integrate acquisitions into our blockchain/NFT strategy and locked down many of our employees across several countries around the world.” After addressing the challenges Animoca Brands has faced in the past, the chairman’s letter to its shareholders went on to talk about how the company has grown over the past 3 years from 2020 to 2023.
In fact, Animoca Brands had less than 200 people working in the company during its first year of the Covid-19 pandemic and over the past 3 years, Animoca Brands has grown exponentially and now has around 1000 employees working around the globe.
Animoca Brands year 2020 deferred revenue according to the chairman’s letter is said to have increased from $6.947 million to $27.890 million, which marked a substantial increase of 401.5%.
Animoca Brands also addressed in its Chairman’s letter to shareholders about the company’s relation to Artificial Intelligence stating that through their AI accelerator they have invested in over 60 AI-related startups and that some of these AI startups products are being integrated with Animoca Brands as well as across its portfolio companies.
Investing in the AI industry is great for Animoca Brands as the company continues to advance its technology and utilize Artificial Intelligence in ways that will allow Animoca Brands to expand their brand by creating new game softwares/games and Possibly to create new NFTs.
For links and more information on the Animoca Brands FY2020 Annual Report and Chairman’s Letter To Shareholders, check out the Animoca Brands Twitter page.
