Web3 firm Animoca Brands sees valuation fall to as little as a quarter of worth in 2022

Q: How long will it take to read this news story?

The story "Web3 firm Animoca Brands sees valuation fall to as little as a quarter of worth in 2022" has 499 words across 16 sentences, which will take approximately 3 - 5 minutes for the average person to read.

Q: Which news outlet covered this story?

The story "Web3 firm Animoca Brands sees valuation fall to as little as a quarter of worth in 2022" was covered 3 hours ago by SCMP, a news publisher based in Hong Kong.

Q: How trustworthy is 'SCMP' news outlet?

SCMP is a fully independent (privately-owned) news outlet established in 1903 that covers mostly business news. The outlet is headquartered in Hong Kong and publishes an average of 10 news stories per day. It's most recent story was published 3 hours ago.

Q: What do people currently think of this news story?

The sentiment for this story is currently Neutral, indicating that people are not responding positively or negatively to this news.

Q: How do I report this news for inaccuracy?

You can report an inaccurate news publication to us via our contact page. Please also include the news #ID number and the URL to this story.<ul><li>News ID: #22064596</li><li>URL: https://beamstart.com/news/web3-firm-animoca-brands-sees-17235504783365</li></ul>

SCMP Logo SCMP 3h ago

Web3 firm Animoca Brands sees valuation fall to as little as a quarter of worth in 2022 - SCMP

Quick Summary:

Yat Siu, chairman of the blockchain video gaming firm, said secondary market trading does not accurately reflect the value of the Hong Kong-based company.

The company’s fortunes have risen and fallen with swings in the cryptocurrency market, which this year has given it a boost as the price of bitcoin surged to an all-time high above US$73,000 in March.

Broader crypto market conditions, including recent volatility and the plunge last week, also contributed to the low valuation, according to Siu.