Animoca Brands’ 2024 Bookings: The Intersection of AI and Crypto

Animoca Brands is making waves with their recent report, showing an impressive $314 million in bookings for 2024, which is a 12% increase from the previous year. This growth showcases the company’s strategic focus on integrating artificial intelligence as they expand within the ever-evolving cryptocurrency scene.

Bookings, a term familiar to those in the gaming industry, include both revenue and deferred revenue. They highlight all payments received and potential sales based on unfulfilled contracts. According to the report, Animoca’s Digital Asset Advisory (DAA) was a significant contributor, generating $165 million in bookings, which marks a staggering 116% increase from the last year. Additionally, the company’s subsidiaries and incubated projects collectively contributed $110 million, along with $39 million from its investment activities.

Navigating Growth in a Shifting Landscape

Yat Siu, co-founder and executive chairman of Animoca Brands, noted that the rise in bookings is a result of the ongoing innovations being brought to the table. While their traditional operations keep the revenue flowing, they’re also strategically pushing into new arenas such as advisory services, RWAs (real-world assets), and stablecoin endeavors in partnership with Standard Chartered and Hong Kong Telecommunications.

Siu expressed that the company is optimistic about further growth heading into 2025, primarily due to a favorable political climate in the U.S. However, he also pointed out potential economic risks on the horizon, such as tariffs, urging a long-term perspective on market trends.

Cost-Cutting Through AI Innovations

On top of that, Animoca Brands managed to reduce operating expenses by a significant margin, dropping from $246 million in 2023 to $217 million in 2024—a 12% decrease. These savings stemmed both from optimizations made in 2023 and the rollout of new AI tools.

Siu stated that these efforts aimed to adapt to a rapidly changing crypto market and global landscape. In 2024, the company opted to pivot away from the U.S. market, given the regulatory hurdles faced by other firms, and instead focused its support on its portfolio companies.

The integration of artificial intelligence isn’t limited to just one area, either; it spans investment decisions, game development, and cost reduction. Siu elaborated that the company is training AI agents with the skills and expertise they’ve developed in-house, emphasizing AI’s potential to improve decision-making.

The Evolving Role of AI in Crypto Trading

As the cryptocurrency landscape continues to shift, AI’s place in trading strategies is becoming more significant. Automated AI crypto trading platforms are evolving quickly, providing tools for traders, such as profitable crypto trading bots and DCA bots. These tools help traders analyze data and market trends to make informed decisions while reducing human error.

However, the rise of AI in trading comes with its challenges. There are valid concerns surrounding transparency and accountability. Striking a balance between human oversight and AI-driven strategies is crucial to maintaining ethical practices and minimizing risks.

Reflections on the Future of Digital Assets

To wrap it up, Animoca Brands’ strong bookings for 2024 reveal the company’s commitment to blending AI with cryptocurrency. As the digital currency trading platform grows, AI’s integration will play a crucial role in shaping future trading and investment strategies. By harnessing automation while ensuring human oversight, Animoca is poised to navigate the complexities of the crypto market as we venture into the open metaverse.