Crypto Giant Animoca Brands Eyes Nasdaq Debut via Reverse Merger

Core Viewpoint - Animoca Brands plans to go public on the Nasdaq through a reverse merger with fintech Currenc Group, aiming to create the world's first publicly-listed, diversified digital assets conglomerate [1][2]. Group 1: Merger Details - The merger is expected to close in 2026, with Animoca's co-founder stating that the company has investments across decentralized finance and NFTs [2]. - Under the merger arrangement, Currenc will acquire 100% of Animoca's shares, resulting in Animoca owning 95% of the new entity, while Currenc shareholders will hold a 5% stake [5]. Group 2: Company Background - Animoca Brands, established in 2014, has invested in notable projects such as The Open Network, Immutable, OpenSea, The Sandbox, and Decentraland [3]. - As of September 30, Animoca's portfolio includes 628 investments primarily focused on gaming and infrastructure, with additional interests in sports, art, fashion, and the metaverse [4]. Group 3: Financial Position - Animoca's digital asset treasury includes Bitcoin, Ethereum, Solana, and MOCA, which recently had a market capitalization of $208 million [5]. - The company's shares dropped 19% to $3.05 on the announcement day but had increased by 61% over the previous five trading days [1]. Group 4: Regulatory Considerations - The merger is subject to approval from Australian regulators, and Animoca was previously delisted from the Australian Securities Exchange in 2020 due to compliance issues [6].