Web3 investment company Animoca Brands released its 2020 financial report, which was originally scheduled to be released at the end of 2022, but the company delayed the release on the grounds of turmoil in the encryption market in 2021 and 2022 and the new crown epidemic.

Yat Siu, co-founder of Animoca Brands, said in a letter: "We would like to thank all shareholders for their patience. The ability to incorporate blockchain/NFT strategies and block many of our employees in various countries around the world.” Siu said the company’s 2020 deferred revenue (generally referring to operating income that has been received or recorded but not yet earned ) from $6.9 million to $27.9 million.

Yat Siu devotes a good portion of the letter to the recent progress the company has made in embracing artificial intelligence. "We've seen product development efficiencies of up to 80% using AI, and we're excited about how AI can accelerate education and learning, gaming, fashion, sports, and every other form of digital identity and culture that Animoca Brands addresses," he wrote. We are very excited about the Web3 efforts in the field.