#47 - Treasury report Q4, 2024
Breakdown of the Beam ecosystem treasury (the “Treasury”) as of December 31st 2024
We are delighted to share the fourth quarterly Treasury report of 2024.
As always, this report is intended to provide a transparent overview of the Treasury’s financial status. In the report, we share a breakdown of the Treasury as of December 31st 2024, including current investments and other financial activities.
Summary
During the past quarter, the Treasury increased from $228,461,294 as of September 30th 2024 to $238,678,709 as of December 31st 2024. This represents an increase of 4.47% compared to the previous quarter. During the same period, Bitcoin was up by 47.14%, while ETH was up by 28.06%. The total crypto market cap, represented by the CCI30 index, saw a rise of 54.38%
There were 14,458,266 BEAM tokens purchased and burned during Q4 2024.
As we look back at 2024, we can see that the entire market, as measured by the CCI30 index, has almost doubled in 2024. Thus, it’s safe to say that 2024 was a good year for the entire industry, with Bitcoin showing new all-time highs over and over, and retail showing their interest once again. We’ve seen new trends emerge from memecoins to AI, AI agents to DEPIN and many others. Gaming and NFTs on the other hand have struggled relatively throughout the year.
When we look at the Treasury versus the market, it outperformed drastically, more than doubling over the year. This gain has been realized whilst managing the downside risk by keeping a diversified mix of assets, including a lot of stablecoins, and while gaming somewhat underperformed as a category.
Treasury overview
The Treasury balance as of December 31st 2024 is $238,678,709
When calculating the Treasury’s balance, we only include non-native assets. This means we do not count the balance of BEAM tokens towards the total balance of the Treasury since it might paint a diluted picture of the reality.
BEAM tokens used for providing liquidity in AMM protocols are included together with their paired tokens, with the total value of each LP pool disclosed on the dashboard.
Please refer to the wallet overview below for an overview of the current balance of BEAM tokens.
The Treasury also holds some very small positions, airdrop dust, residual tokens or gas fee money, with values lower than 0.001% of the total Treasury, these balances are not recorded unless they become more significant in value.
We will break down the Treasury in three categories; liquid crypto assets, NFTs and venture investments.
Liquid assets
NFTs
Tokens & equity
*Other
The recent version of the Treasury dashboard includes a section for “Other Investments”, split across the three categories of liquid assets, NFTs and tokens & equity. Since the start of the year and during the last quarter, some of the portfolio projects have been underperforming and have seen a significant loss of value. The Other Investments line item aggregates the costs and current realizable value of those projects that have underperformed and thus will usually reflect a significant loss relative to the cost amount.
We feel it is important to be transparent with the community while maintaining the quality of the Treasury reports, thus positions which have negligible value or are written off can be tracked as “Others”, removing the need to provide each one with its own line.
Notable changes this quarter
Virtual protocol saw tremendous growth during Q4 2024, with their VIRTUAL token substantially growing with 76x over Q4 2024. This has been very positive for our Treasury, with VIRTUAL token now comprising just over 8% of our portfolio.
Zentry, one of the large positions in the Treasury has seen some solid recovery, with a price growth of 47.7% for the ZENT token during the past quarter.
Portfolio update
We firmly believe that providing thorough and meaningful Treasury reports is paramount to our mission of transparency and accountability. It is with this commitment in mind that we're excited to present a more comprehensive overview of the state of the investment portfolio.
In this update, we provide insights into the specifics of some of the largest or most exciting investment positions. This includes new investments or important updates to current portfolio projects.
Virtuals
Virtuals Protocol concluded Q4 2024 with strong momentum following their launch on Base network. The platform's Initial Agent Offering platform and Luna, their flagship autonomous agent, achieved a ton of traction with over 17,500 unique agent token holders and $250 million in trading volume in the first three weeks post-launch.
Q4 saw the introduction of Agentstarter, a dedicated launchpad providing resources and development support for AI agent creators. The protocol enhanced its ecosystem by deploying the G.A.M.E. framework and reducing graduation requirements for agents to foster broader participation.
With over 1,000 unique agents created and 15 million $VIRTUAL locked in Agent LPs by year's end, Virtuals Protocol established itself as the go-to party when it comes to the AI Agent narrative.
Saga
Saga continues to work hard at improving their protocol, and securing partnerships, as seen in Q4 2024 with the launch of their Mainnet 2.0 and an exciting partnership with Uniswap. The platform made history by hosting Uniswap v3's first-ever appchain deployment, enabling gasless trading and demonstrating Saga's innovative economic model.
Q4 also saw the introduction of simNGMI, the first Layer 1 blockchain dedicated exclusively to AI agents. This novel infrastructure allows autonomous agents to interact and evolve without network congestion, positioning Saga at the forefront of AI-blockchain integration.
The platform is set to launch its Liquidity Integration Layer (LIL) in Q1 2025, aiming to unify liquidity across blockchain ecosystems. With strategic partnerships including Evmos for EVM runtime and Squid Router for token swapping, Saga continues to advance its vision of seamless, multichain operations.
Sophon
Sophon concluded the year 2024 with the successful launch of their mainnet, supported by over $450M in Total Value Locked (TVL) and more than 120,000 node tokens purchased by 5,800 unique participants. The platform introduced Phase 2 of their farming program on mainnet, featuring improved rewards mechanisms and zero transaction fees.
The quarter saw Sophon forge strategic partnerships with established players, including Rivalry's billion-dollar betting platform, Mirai Labs with 27M+ onboarded wallets, and OPEN Ticketing powering 7M+ tickets globally. Additionally, collaborations with Aethir for distributed computing and various gaming studios have strengthened their entertainment ecosystem.
With node rewards that are currently distributing and a growing network of strategic partners, Sophon continues to establish itself as a leading infrastructure provider for mainstream blockchain adoption.
Aethir
As one of the leaders when it comes to cloud computing, AI and anything to do with compute power, Aethir’s been in the picture lately. The platform partnered with GAIB and GMI Cloud to launch the first decentralized AI compute network powered by NVIDIA's H200 Tensor Core GPUs, aiming to democratize high-performance computing access.
The platform expanded its infrastructure to over 43,000 gaming GPUs, 3,000+ NVIDIA H100s, and 32,000 globally distributed Edge computing devices. Strategic collaborations with LayerZero and Injective enhanced Aethir's cross-chain capabilities and introduced a tokenized marketplace for GPU compute resources.
The best of all is the fact that Aethir is making actual revenue. As seen on Depin Ninja, the current annual recurring revenue is set at $98M, impressive numbers. Last but not least, they recently announced a $100M collaboration with Avalanche to support AI innovation on the network.
The Bazaar
The Bazaar, one of our equity traditional gaming investments, has demonstrated impressive initial growth since launching its Closed Beta in Q4 2024. The free-to-play Hero-Builder game has rapidly built a substantial user base, attracting over 120,000 unique players who have completed more than 4 million runs in just three weeks of operation.
The platform's multi-tiered Founder's Pack system, ranging from $33 to $99, has shown strong market reception, leading to an extension of the Closed Beta period to accommodate growing demand and ensure infrastructure stability. This strategic decision showcases the team's commitment to building a robust foundation for long-term growth.
With planned mobile expansion in 2025 and a dedicated focus on exclusive seasonal content, The Bazaar is positioning itself as a significant player in the digital card game landscape through traditional gaming mechanisms rather than Web3 features. We remain excited about the project's potential to revolutionize the genre with its innovative hero-building mechanics.
Qooverse
Beam has participated in the pre-seed round of Qooverse, a Web3 game studio, alongside leading investors including Paper Ventures and Animoca Brands. Founded by veterans from Tencent and Goldman Sachs, Qooverse develops mid-core and casual social games for social platforms like Telegram.
Their flagship game Qoomon Fuse, featuring Oriental-style creatures in fast-paced PvP battles, has attracted several hundred thousand players organically within its first month. The studio plans to expand distribution across Line and Discord platforms while enhancing crypto onboarding features.
With a Token Generation Event planned for early 2025 and a game center launch on the horizon, Qooverse aims to redefine social gaming experiences through blockchain integration and deep social platform embedment.
Tactical Compute
Beam Foundation has invested in Tactical Compute (TACOM), a $40 million initiative alongside Aethir and Permian Labs (founding team of MetaStreet), focusing on the intersection of AI compute and blockchain technology. This strategic venture aims to address the growing scarcity of computing power through innovative financing solutions and infrastructure development.
TACOM has already demonstrated early success with a pioneering $3.3 million mobile chip contract, marking the first on-chain financing deal for DePIN assets. Through MetaStreet's DePIN Financing Pool on Arbitrum, the project introduces novel approaches to hardware financing and yield opportunities in the compute sector.
With support from strategic partners including Sophon Foundation, TACOM is positioned to transform how compute resources are valued and distributed in the evolving AI and blockchain landscape.
Live treasury dashboard
We have updated our dashboard with the most recent data as of December 31st, 2024.
The Treasury dashboard is under continuous development to increase the transparency and accountability towards the community. It’s important to share correct information and provide anyone contributing to the Beam ecosystem with a clear overview of the Treasury’s current status. This is sought to be accomplished through the Treasury dashboard.
With its development continuing and always changing, we are more than happy to receive feedback through any of the social channels. Without further ado, we invite you to dive in and see the current Treasury status on our dashboard.
Visit the dashboard here - treasury.onbeam.com
Wallet overview
To operate completely transparently, we would like to provide a full list of wallet addresses the Treasury currently utilizes.
Ethereum
Binance smart chain
Solana
Ronin
Beam
Looking forward
As we reflect on the past year, we're filled with pride in our achievements and optimism for what lies ahead. Our current position creates a strong foundation for future growth, particularly with the launch of Beam Ventures and Beam Nodes. These additions to our ecosystem are set to create significant impact across all levels throughout the year, including our Treasury.
Notes
All balances and prices are based on calculations made on December 31st 2024.
All investments made after December 31st 2024 are not included in the Treasury report unless specifically mentioned.