Institutional-Grade Analysis, In-depth Insights, Animoca Brands Research

Animoca Brands Research

Institutional-Grade Analysis, In-depth Insights

Animoca Brands Corporation Ltd. is a Hong Kong-based game software company and venture capital company

Crypto

Cross The Ages (CTA) is a comprehensive intellectual property (IP) that spans multiple forms of media and entertainment. It is designed to engage its community through a wide range of experiences, blending Web2 and Web3 ecosystems. CTA's universe includes:

Video Games
Books
Movies/Series
Collectible Figures
Merchandising
Derivative Products

<ul>
<li>Cross the Ages (CTA) exemplifies the transmedia IP practice in the gaming sector by establishing literary content as its foundational asset and expanding it across interactive and physical formats.</li>
<li>The game originated from a seven-volume dystopian novel saga and began development in 2020, leading the team to secure a $12 million Series A investment in March 2022.</li>
<li>The Trading Card Game (TCG), the flagship product, is designed to translate narrative elements into interactive gameplay. The TCG has achieved over 400,000 cumulative worldwide downloads and maintains robust engagement with approximately 148,000 monthly active users.</li>
</ul>


Cross the Ages (CTA) exemplifies the transmedia IP practice in the gaming sector by establishing literary content as its foundational asset and expanding it across interactive and physical formats.
The game originated from a seven-volume dystopian novel saga and began development in 2020, leading the team to secure a $12 million Series A investment in March 2022.
The Trading Card Game (TCG), the flagship product, is designed to translate narrative elements into interactive gameplay. The TCG has achieved over 400,000 cumulative worldwide downloads and maintains robust engagement with approximately 148,000 monthly active users.


Cross the Ages: IP-Based Transmedia Operation in GameFi

Virtual currencies are decentralized, math-based digital assets in which transactions can be performed cryptographically without the need for a central issuing authority. The first specification and proof of concept of Bitcoin, the first widely used virtual currency, was published in 2009 based on a paper published pseudonymously by Satoshi Nakamoto.

<ul><li aria-level="1">Q3 saw a shift in altcoin exchange listing activities from a low phase to a more volatile model.</li><li aria-level="1">July marked the first recovery, driven by Bitget and MEXC. A full rebound occurred in September, with strong listing activities from both large and mid-size exchanges, reaching January's listing event levels and surpassing its initial trading volume.</li><li aria-level="1">We anticipate continued volatility in listing activity due to overall market uncertainty.</li></ul>

Q3 saw a shift in altcoin exchange listing activities from a low phase to a more volatile model.July marked the first recovery, driven by Bitget and MEXC. A full rebound occurred in September, with strong listing activities from both large and mid-size exchanges, reaching January's listing event levels and surpassing its initial trading volume.We anticipate continued volatility in listing activity due to overall market uncertainty.

KITEAI is an innovative AI-driven chatbot platform that leverages the power of blockchain technology to create a decentralized and user-centric ecosystem. Designed to enhance user interaction and engagement, KITEAI provides a seamless experience where users can earn and utilize tokens and points through various activities, including daily check-ins, user invitations, and AI queries. By integrating artificial intelligence with blockchain, KITEAI ensures secure, transparent, and efficient transactions while promoting active community participation.

<ul><li>AI industrial developments are advancing fast, presenting a paradigm shift from human centric systems to human-system interactions.</li><li>Emerging standards are shaping the AI agent economy, including the X402 protocol developed by Coinbase and the A2A and AP2 protocols by Google.</li><li>Kite AI is a PoAI-powered L1 blockchain optimized for the AI agent economy, enabling near-instant, sub-cent stablecoin micropayments via state channels and payment lanes.</li></ul>

AI industrial developments are advancing fast, presenting a paradigm shift from human centric systems to human-system interactions.Emerging standards are shaping the AI agent economy, including the X402 protocol developed by Coinbase and the A2A and AP2 protocols by Google.Kite AI is a PoAI-powered L1 blockchain optimized for the AI agent economy, enabling near-instant, sub-cent stablecoin micropayments via state channels and payment lanes.

Kite AI: Open Infrastructure for the Agentic Economy

KARRAT, a cryptocurrency launched in 2024, operates on the Ethereum platform and serves as a decentralized gaming infrastructure layer. With a fixed supply of 1 billion tokens, KARRAT (KARRAT) is an ERC20 utility and governance token designed to accelerate the evolution of gaming, entertainment, and AI-driven experiences. The protocol is supported by a decentralized community that shares a vision for the future of these industries.

The KARRAT protocol's first major adoption comes from the game "My Pet Hooligan," which leverages the token to enhance its gaming ecosystem. This integration exemplifies KARRAT's utility in real-world applications, particularly within the gaming sector. The token's value is influenced by market demand and supply dynamics, reflecting its role in a rapidly evolving digital landscape.

KARRAT's decentralized nature ensures that it is governed by its community, fostering a collaborative environment for innovation. The terms and conditions of KARRAT prohibit use by restricted persons, ensuring compliance with regulatory standards. This governance model not only supports the token's utility but also reinforces its commitment to a secure and inclusive ecosystem.

In addition to gaming, KARRAT aims to integrate with entertainment and AI products, positioning itself as a versatile player in the digital economy. The token's fixed supply and decentralized governance structure make it a unique asset in the cryptocurrency market, with potential applications extending beyond traditional gaming environments.

<ul>
<li>AMGI Studios combines animation expertise with gaming technology to explore new entertainment formats.</li>
<li>Its first title, My Pet Hooligan (MPH), is a multiplayer shooter with open-world gameplay, tokenized assets, and on-chain progression.</li>
<li>To expand its audience, AMGI leverages Web3 and AI. Web3 features like $KARRAT tokens, NFTs, and an on-chain marketplace attract blockchain-native players and reward engagement, while Studio Chain is designed to support fast, scalable, and secure transactions.</li>
</ul>


AMGI Studios combines animation expertise with gaming technology to explore new entertainment formats.
Its first title, My Pet Hooligan (MPH), is a multiplayer shooter with open-world gameplay, tokenized assets, and on-chain progression.
To expand its audience, AMGI leverages Web3 and AI. Web3 features like $KARRAT tokens, NFTs, and an on-chain marketplace attract blockchain-native players and reward engagement, while Studio Chain is designed to support fast, scalable, and secure transactions.


My Pet Hooligans: Unlocking Players with Web3 and AI

<ul><li aria-level="1">Fully Diluted Valuation (FDV) and Market Capitalisation (MC), while subject to various externalities, are often used as reference points for token valuation. However, this approach is ambiguous for early-stage tokens: Small circulating floats and speculative momentum often inflate FDV, creating uncertainty over whether to benchmark against peers’ FDV or to adjust for differences in circulating supply.</li><li aria-level="1">We analysed over 800 tokens, regressing circulating supply (%CS) against both Fully Diluted Valuation (FDV) and Market Capitalisation (MC), with results segmented by project maturity and time.</li><li aria-level="1">Main finding: Throughout most of a token’s life, MC explains valuation behaviour more reliably than FDV. The market anchors on circulating supply rather than total theoretical value.</li></ul>

Fully Diluted Valuation (FDV) and Market Capitalisation (MC), while subject to various externalities, are often used as reference points for token valuation. However, this approach is ambiguous for early-stage tokens: Small circulating floats and speculative momentum often inflate FDV, creating uncertainty over whether to benchmark against peers’ FDV or to adjust for differences in circulating supply.We analysed over 800 tokens, regressing circulating supply (%CS) against both Fully Diluted Valuation (FDV) and Market Capitalisation (MC), with results segmented by project maturity and time.Main finding: Throughout most of a token’s life, MC explains valuation behaviour more reliably than FDV. The market anchors on circulating supply rather than total theoretical value.

Interpreting Circulating Supply Effects on Token Valuation: MC Vs FDV