Animoca Brands had total assets of about $3.3 billion as of March, but Animoca Executive Chairman and co-founder Yat Siu said the company's secondary shares were trading at about $1.5 billion, down about 75% from its valuation of $5.9 billion in July 2022. The secondary market is less liquid, with a much smaller number of buyers and sellers than on exchanges such as the New York Stock Exchange. Still, Animoca's declining value in the eyes of deep-pocketed investors has been affected by the general pessimism in the NFT market. While the cryptocurrency market has begun to recover since the 2022 crash, NFTs have not. According to CryptoSlam data, NFT trading volume in July was $430 million, far lower than the $6 billion in January 2022. (DL News)