Animoca bets on altcoin to attract investors as it plans for an IPO

The founder of Animoca Brands, Yat Siu, stated that the company aims to become a channel for investors to access the altcoin market and broader cryptocurrency projects, as it prepares for a public listing through a reverse merger next year. Siu believes that altcoins will outperform Bitcoin as a group in the long term, comparing Bitcoin to gold — which has sustainable value but does not provide the diverse growth opportunities that technology companies do. He emphasized that altcoins have high applicability in the Web3 ecosystem, from gaming, gas fees to DeFi and DePIN.

Animoca is pursuing an investment strategy similar to the early investment opportunities in Amazon, Google, or Alibaba, believing that crypto will not have a “market monopolizing” project. Animoca's portfolio currently focuses on gaming, infrastructure, AI, and DeFi. The company stated that it can access altcoin at lower prices than typical investors and share this benefit with shareholders.