Animoca Brands’ Co-founder and Chairperson Yat Siu recently gave an interview at the Urban Land Institute’s ‘Asia Pacific Summit’. During the interview, Siu expressed his views on Web 3.0, blockchain games, and more.
Siu opened with an exciting statement for metaverse enthusiasts, claiming that the influx of new users into the metaverse was likely to increase even further over the months to come.
“Within the next 18 months or so, we expect hundreds of millions of new entrants into the open metaverse because the quality of open metaverse products, such as new and higher quality blockchain games, will have launched, and will attract a new wave of people joining the space,” Siu said.
Yat Siu Has His Say on the Future of Web 3.0
The Co-Founder of Animoca Brands is an active advocate of metaverse, and has voiced his support for both blockchain games and the metaverse, and further reiterated his stance during the conference. Below are some of the key points he made.
- Siu pointed out that over 3.2 billion traditional gamers are already in an “enclosed metaverse” that do not own their in-game assets. He went on to assert that Web 3.0 addresses this by transferring ownership of in-game assets from tech companies to gamers directly, which they can then use across a range of different metaverses.
- Siu further claims that much of the infrastructure needed for Web 3.0 is already in place.
- The Animoca Brands Chairperson believes the younger generation will help push the Web 3.0 revolution forward. “One of the reasons why young people are drawn to Web3 is not because it represents a better technology, it actually represents a better future,” Siu enthused.
It’s clear that Yat Siu believes it to be only a matter of time before gamers enter the metaverse, and Web 3.0 sweeps the world.
On the Flipside
- While Siu is optimistic about the future of Web 3.0, the present doesn’t look promising. Though Animoca Brands has withstood in the crypto winter, the condition of the broader market is yet to stabilize.
- Despite gaming accounting for a sizable portion of all blockchain activity, persuading gamers to switch to blockchain gaming and onboard into the blockchain ecosystem has proven challenging thus far.
Why You Should Care
In the ongoing crypto winter, Animoca Brands and its games have held strong and optimistic, as it did in previous bearish situations. The company was an early investor in projects like Axie Infinity, and even acquired Pixowl, the studio behind The Sandbox.
In July 2022, Animoca Brands was valued at $5.9 billion. The company is backed by notable figures such as Jack Ma, the Winklevoss Twins, and more. The company boasts having popular projects like The Sandbox, GAMEE, Crazy Defense Heroes, and many others under its belt.