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Appearing on the Best Business Show, hosted by businessman and Bitcoin influencer Anthony “Pomp” Pompliano, the Founder of Animoca Brands, Yat Siu, spoke about the Metaverse and what motivates his investment firm in making decisions.
Considering the many going definitions, Siu was asked what he considers to be the Metaverse. He said:
“The Metaverse is a place where we can actually own digital assets in which we have a stake and ownership.”
The last 20 to 30 years have been a preparation for the Metaverse, Siu said. We evolved from the earliest days of pre-internet were we already had to operate as virtual beings, to the early days of internet all the way to where we are now. He noted that it has been a steady transition.
The Animoca Brands founder is aware that his definition of the Metaverse is contrary to some general idea that includes AR and VR to the Metaverse and does not agree to that. According to Siu, AR and VR are tools to be used in the metaverse, while the metaverse can only involve real digital ownership with economic benefits to its users.
Furthermore, Siu spoke of countries like Vietnam, Indonesia, and the Philippines which have experienced massive growth on cryptocurrency adoption and have become hubs for creativity and innovation in the Metaverse.
About his company, Animoca Brands, Siu said that a deep-seated passion for growing the non-fungible tokens (NFT) ecosystem is what has driven its enormous growth in the last couple of years.
The Hong Kong based firm has an extensive portfolio in (NFT) and decentralized gaming and is a global leader in gamification and blockchain, with more than 150 investments in NFT-related companies and decentralized projects that are working to develop the open metaverse.