Animoca Brands Faces NFT Market Valuation Challenge

Animoca Brands' Valuation Plummets on Secondary Markets
Animoca Brands, a leading player in the blockchain and digital assets space, recently experienced a significant valuation decline in the secondary market. Initially valued at $5.9 billion during a 2022 fundraising round, the company's valuation has now dropped to approximately $1.5 billion, as reported by Yat Siu, the executive chairman and co-founder of Animoca Brands. This represents a staggering 75% decline, reflecting broader challenges in the NFT market.