“I think blockchain technology will help solve many of the world’s biggest problems.”
Blockchain technology holds immense potential to address some of the world’s most pressing challenges by offering transparent, secure, and decentralised solutions. It provides a tamper-proof ledger, ensuring ownership records of digital assets like cryptocurrencies, NFTs, and digital real estate are transparent and immutable.
This empowers creators and owners by giving them full control over their digital properties, allowing for the seamless transfer of assets without intermediaries.
Much of this is only possible thanks to trailblazing business leaders like today’s guest, who is rapidly reaching legendary status in the crypto and blockchain space and, like any true visionary, sees the world in terms of what it can be, not what it is right now.
Yat Siu is an entrepreneur, investor, business leader and driving force behind the growth of numerous Web3 projects that are transforming the way we consume entertainment and redefining digital ownership through digital property rights.
As a founding figure in the online gaming space and the Chairman and co-founder of Animoca Brands, he has spent the last decade innovating in game development and the complex world of NFTs.
For Yat and Animoca, the long-term goal is clear: to deliver true digital property rights to all while investing in companies that share similar values. Their mission is to bring more equity to the future of games and radically change how we live, play, and work for the better.
Yat explains that the next Web3 growth cycle will be driven by cultural and distribution narratives, especially gaming, and believes mass adoption will occur within the next 12 to 18 months. This adoption will be propelled by the increasing availability of distribution tools for Web3 applications.
Yat is convinced that once adoption begins, it will rapidly escalate, potentially involving hundreds of millions or even billions of users, making these networks incredibly powerful. The inherently social nature of gaming will serve as the primary catalyst for this adoption, strengthening blockchain communities.
“Our goal is to create a truly symbiotic set of relationships that will deliver value to our portfolio’s networks and reward the time, loyalty, and attention of users. It’s a scenario in which all participants benefit from the shared network effects, in full accordance with the central ethos and promise of Web3.”
Yat also emphasises the freedom of asset movement in Web3, which forces networks to continuously improve for end users. This decentralised nature prevents monopolies and promotes innovation, as seen with projects like OpenSea and Axie Infinity.
The ability to shift liquidity and provide rewards across different platforms ensures that no single entity can dominate, fostering a competitive and innovative environment in the Web3 space.
“If you want to build North Korea, go ahead. But if you’re not open, then why are you in Web3 to begin with? There’s no point being in Web3 if you’re building a closed ecosystem.”
Yat has been in this game for a long time. In his youth, he developed software on an Atari ST, leading to an offer of work from Atari itself when he was just a teenager. This signalled a lifelong love affair with technology that continues to grow stronger.
At Animoca, he and his team developed gaming apps for the emerging smartphone market, amassing over 50 million downloads. Today, Animoca is pioneering a new world of digital entertainment, and has been named among the Financial Times‘ high-growth companies, a Deloitte Tech Fast winner, and a Fortune Crypto 40 company.
To date, Animoca has invested in more than 450 companies, aiming to build a true “open metaverse” based on blockchain technology, where users can buy and trade digital assets in the form of NFTs.
At the heart of it all is the Mocaverse, an interoperable infrastructure designed to maximise network effects by integrating various cultural economies such as gaming, music, sports, anime, NFTs, and digital identifiers into a unified ecosystem.
The idea is that the success of one segment benefits the broader network. This growth framework will expand the Moca Network, using the omni-chain MOCA Coin for utility and governance. The Mocaverse also includes Moca ID, an omnichain identity reputation layer designed to bridge network effects across ecosystems and drive Web3 industry growth.
The Mocaverse aims to build cultural capital through a proof-of-loyalty mechanism, rewarding user contributions to the network. By fostering engagement and loyalty, Animoca seeks to create a symbiotic relationship that benefits all participants, in line with the ethos of Web3.
“This innovation marks a significant leap towards a future where individuals can exercise complete sovereignty over their digital identities and the value they create online.”
Their goal is to enable providers to serve millions or even billions of people with products designed to benefit the end user. And at its core, Yat believes that Web3 and crypto can save the capitalist narrative by reintroducing the value of democracy.
With the rapid emergence of AI unlocking huge potential in Web3 and the global metaverse market set to become a multi-trillion-dollar economy, it’s no wonder Yat and his team are very bullish about the future.
“By definition, there can’t be a platform that rules over us. Therefore, how do you grow an ecosystem and succeed in an ecosystem? It can’t be by creating walls. It has to be as open as possible, so that’s why we’ve invested in all these companies.”
