Animoca Brands is going public via reverse merger with Currenc.
This isn't just another crypto company listing.
It's the first consumer social conglomerate in crypto hitting public markets.
Some comparisons:
- Tencent → Consumer gaming and social media from Riot Games to WeChat
- IAC → Consumer media empire like People Inc and The Daily Beast
- Berkshire → Consumer products and services from insurance to Coca Cola
Animoca = all three, but crypto-native and focused on consumer social
The structure is what's exciting: Holding company with 600+ investments (Dapper, Axie, Polygon) + owned products (The Sandbox, Moca Network, and others).
They're not picking sides. They own the entire consumer crypto stack.
For perspective, IAC went public in 1999 when AOL was dominant. The industry evolved but the investment thesis is the same 25 years later.
Why this works:
Web2 conglomerates succeeded by owning distribution + content + infrastructure across consumer apps, media, and products.
Animoca does the same onchain with gaming, social, virtual worlds, and sports.
This reverse merger creates a public vehicle for consumer crypto exposure without single-product risk.
You're betting on the category, not one app. That's the web3 consumer social thesis.
