Animoca Brands has been pitching an in-house market making service to crypto startups

Animoca Brands, the web3 investment firm, has ramped up efforts to pitch an in-house market making service to startups in its vast portfolio.

Animoca offers the market making service through an in-house Digital Asset Team, which was set up in early 2022 and is today made up of ten employees, according to a spokesperson for the company. They described it as “essentially a treasury team” that also handles setting up nodes and hedging, helping to offset the volatility of Animoca’s vast trove of volatile tokens.

But the existence of such teams within crypto outfits that offer a much wider range of services has in the past proven controversial. Animoca’s spokesperson, however, stressed that its Digital Asset Team “is not an in-house trading desk that takes on proprietary trading positions” — in other words it does not trade tokens for profit. The services offered by its Digital Asset Team are “optional add-ons that are negotiated on an arm’s length basis.”

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Fonte: TheBlock__ - 🏆 464. / 53 Consulte Mais informação »