Animoca Brands pitches in-house market making service to startups in its portfolio

Hong Kong-based web3 investment firm Animoca Brands has been promoting its in-house market making service to the more than 400 projects it has backed. The service is offered through the company's Digital Asset Team, which was set up earlier this year and is made up of ten employees. The team conducts market-making to ensure there is enough buy/sell liquidity for certain tokens, similar to the function of third-party market makers, but is performed in-house for scale and efficiency. Animoca has pitched its Digital Asset Team's capabilities to portfolio companies and external companies where it sees potential alignment, but the existence of such teams within crypto outfits has previously raised concerns about potential conflicts of interest.