Secondary shares of the company are trading at about $1.5 billion, according to Yat Siu, executive chairman and co-founder of Animoca.

That’s almost 75% below Animoca’s valuation in July 2022, when the firm announced that it had raised $75 million at a $5.9 billion valuation.

This could be a good buying opportunity for long-term investors who believe in the metaverse and Animoca's vision. What do you think caused this?