Animoca Brands, a prominent investor in the Web3 and crypto gaming sectors, is considering going public in 2025. According to a report by The Information on Wednesday, the company is evaluating potential listings in Hong Kong or the Middle East.

The company, which was valued at $5.9 billion during its last fundraising round in 2022, has engaged in discussions with investment banks. However, it has not yet appointed an adviser for the potential public offering.

Animoca Brands is renowned for its investments in non-fungible tokens (NFTs) and crypto gaming companies. Its portfolio includes notable Web3 companies such as Axie Infinity, the TON Network, and the payments application hi. Despite the firm’s active engagement with investment banks, it has yet to finalize the location for its initial public offering (IPO).

Co-founder Yat Siu, in an earlier interview with CoinDesk this year, highlighted the transformative potential of NFTs. He emphasized that NFTs are underutilized and could play a significant role in digital capitalism, especially in sectors like rights management and education.

Previously, Animoca Brands was listed on the Australian Securities Exchange. However, its shares were delisted by the exchange in March 2020 due to various rule breaches.

UPDATE (June 26, 16:25 UTC): Added details on investments in the third paragraph, referenced an earlier interview in the fourth, and included information about the previous listing in the fifth.

Source: Coindesk