Animoca Brands conducted layoffs in 2023 during the crypto downturn, reducing the target size of its metaverse fund from $2 billion to $800 million. Employee reviews criticized management for "trimming headcount while leaving an expensive and underperforming C-suite intact" as "rearranging deck chairs." The company later expanded, opening a 28,000 sq ft Hong Kong office in October 2024.
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Animoca Brands
Animoca Brands conducted layoffs and reduced its metaverse fund from $2B to $800M during the 2023 crypto downturn. However, the company recovered quickly: in October 2024, Animoca nearly quadrupled its Hong Kong office space from 7,500 to 28,000 sq ft while other Hong Kong firms downsized. President Evan Auyang stated it was "a perfect time to create a collaborative space not only for ourselves but also for other companies in our portfolio." The company now employs 500-1,000 people globally.
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Animoca Brands — Worker Treatment: MIXED Animoca Brands conducted layoffs and reduced its metaverse fund from $2B to $800M during the 2023 crypto downturn. However, the company recovered quickly: in October 2024, Animo… https://reciepts.tech/stance/1719
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See all →Animoca Brands was delisted from the Australian Securities Exchange (ASX) in March 2020 following regulatory scrutiny of its crypto, NFT, and blockchain gaming businesses. Founder Yat Siu stated the delisting was because ASX "didn't like the fact that they were dealing with crypto." The company operated in a regulatory gray area. A planned Nasdaq listing via merger with Currenc Group was suspended in September 2026.