Blockchain Gaming World 7 November 2025 | Weekly news roundup
Nov 7, 2025
Animoca Brands is making waves with a plan for a reverse merger to list on Nasdaq, potentially valuing the company at $3-4 billion. Meanwhile, Moonfrost is shifting gears from Web3 to Web2, launching the Frost Arcade to target a new audience. Immutable's IMX token has become fully liquid, making a significant mark in the gaming market. The Sandbox commits to a user-generated content model for 2026, while Spider Tanks is set for an exciting reboot on Immutable with early access this December.
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Valuation Hinges On Liquid Assets And Illiquid Bets
- Animoca's on-paper assets include about $1B in liquid crypto and ~$100M operating gross profit last reported, creating a floor under valuation.
- Valuing illiquid token holdings and 600 venture investments drives high uncertainty and wide valuation range.
Deal Completion Still Faces Execution Risk
- The reverse-merger still faces regulatory and shareholder approvals and a 9–12 month timeline, leaving material execution risk.
- External macro events or regulatory pushback (e.g., Australia) could derail or delay the listing.
Moonfrost Splits Into Web2 Game And Degen Platform
- Moonfrost's team includes experienced PC developers and art director Gina, who previously worked on Stardew Valley ports.
- They decided to release Moonfrost as a pure Web2 Steam game while Rick spins off a Web3 degen platform called Frost Arcade.