Blockchain gaming company Animoca Brands has reported record revenue during the COVID-19 lockdown. 

Animoca Brands, whose blockchain-based game line-up includes titles like The Sandbox, F1 Delta Time, and Crazy Defence Heroes, reported revenue of $7.34 million USD during the first four months of 2020 – with the first quarter generating $4.33 million, and an incredible $3 million being added in April. 

According to the company, at the end of April it held $6.08 million in fiat and crypto assets, of which around $770K was in Bitcoin (BTC) and Ether (ETH), and $1.2 million in various altcoins. The significant increase in crypto assets was attributed to its non-fungible token (NFT) sales for The Sandbox, F1 Delta Time, and Crazy Defense Heroes.

As we’ve previously reported, Animoca Brands is one of the companies leading the blockchain gaming revolution, which promises to give players true ownership rights over in-game assets. 

Being blockchain-based means the ownership is not dependent on the fate and management whims of a particular publisher or game title – as has been the case with in-game assets previously. 

Logically, this should motivate players to invest more of their time and money into games, and is already leading to the rise of a true parallel digital economy.  

The potential of blockchain-based games isn’t being lost on major investors either. The Sandbox (TSB), which is now a standalone company, with Animoca Brands as a major shareholder, has attracted investments from Square Enix, B Cryptos, Mindfulness Capital, and True Global Ventures, while F1 Delta Time has been developed in partnership with Formula 1. 

AYO.NEWS says:

As with the boom in esports, companies may see things settle down a bit when the COVID-19 crisis is over – but that could be a long way off, with lockdowns being reimposed and fears of an even worse second wave of infections growing. 

But, even so, there are signs that the crisis has changed the way many think about the world and the global economy. It has highlighted how vulnerable our physical systems are, and particularly how exposed many people’s livelihood are. 

Given this, the appeal of existing more in an online world, and even potentially building wealth through creating and trading digital in-game assets, must surely have increased for many millions of people. 

‘AYO.NEWS says’ features the opinion of the author and does not necessarily reflect the views of Pentagon Digital Limited or its affiliates or associates. 

All original content featured on this site is © Pentagon Digital Limited, 2020