In a recent update on its Twitter page, leading Web 3.0 firm, Animoca brand has announced the launching of a new NFT collection. The firm made the revelation today, via the announcement, Animoca brands established that the collection; Mocaverse NFT is an exclusive one.
Notably, the firm said that the NFT collection is exclusive for friends and family of Animoca Brands. Further, the Web 3.0 company divulged that Eligible individuals would receive mail that contains certain instructions. However, Animoca Brands did give more details about the collection, stating that it’ll be launched soon.
Meanwhile, Animoca Brands has launched numerous digital collections previously, the project has helped establish the status of the firm in the industry. More so, the firm is very vocal regarding its push for the global adoption of Web 3.0. The push has birthed numerous projects that have added value to the virtual asset sector.
Animoca Brands financial exposure to FTX
Animoca Brands falls into the category of firms affected by the recent collapse of FTX. Recently, the firm released notable figures of its balance sheets, the revelation pointed to a slight financial exposure to the cryptocurrency exchange. In a statement, the Co-founder of the Venture and Software Company Yat Siu confirmed the exposure. Also, Yat Siu said the exposure to FTX is limited to a non-material trading balance.
Additionally, the Co-founder of Animoca Brands established that the crisis surrounding FTX won’t discourage the firm to invest in the industry. According to the firm, its cash balance is worth about $214 million, with $940 billion in digital assets and $3 billion in off-balance sheet digital reserves.
How the NFT sector has fared in 2022
Much to the surprise of Critics and Naysayers, the NFTs sector has continued its solid run into the Q3 of 2022. Despite the prevailing bear market, the sector strengthened its position as the forerunner of Web 3.0. A gospel Animoca Brands holds in high regard.
Projects in the industry like Bored Apes Yacht Club, Cryptopunks, Meebits and Otherside all endured a massive decline in sales. Between the Q2 and Q3 of 2022, the aforementioned collection slumped from 30% to 17% in their contribution to the total sales in the sector. However, the industry still manages a strong position in 2022 due to the emergence of new projects.