Animoca Brands Announces Its Plan to Buy Back WATCoins

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On October 17, 2024, Animoca Brands announced its intent to enter the market to buy back WATCoins (WAT). WATCoin is known as the service coin for WatBird, a Telegram Mini App developed by the company’s subsidiary, GAMEE. Through this move, Animoca Brands aims to strengthen WatBird’s role within the broader TON ecosystem.

The Role of WatBird and WATCoin

WATCoin allows the WatBird platform to offer various services and rewards to its users. This action by Animoca Brands is significant for increasing WatBird’s activity within the TON ecosystem. By taking this step, Animoca Brands will not only support its platform but also contribute to the growth of the Web3 ecosystem.

This move by Animoca Brands demonstrates the company’s strong commitment to its projects and investment strategies. The company has maintained its leadership in the Web3 space by making substantial investments over an extended period. Currently, it possesses a broad portfolio with over 540 Web3 investments.

Animoca Brands is one of the leading names in blockchain-based gaming and digital ownership rights. The company, listed in the Fortune Crypto 40, is considered one of the fastest-growing companies in the Asia-Pacific region. It has successful projects like The Sandbox and PHANTOM GALAXIES, along with partnerships with popular brands such as MotoGP and Formula E.

The Announcement Boosted WAT’s Price

Following Animoca Brands’ announcement, the price of WAT coin rose sharply. As of the time this news was prepared, the coin was trading at $0.0004009, reflecting a 48.17% increase over the last 24 hours.

Trade volume also surged alongside the price increase, with a staggering 1,688% rise in trading volume to $6.81 million.

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