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Metaverse Will Bring About the "Construction of New Economies" – Animoca CEO

Yat Siu, the Co-Founder and Chief Executive Officer of Animoca Brands has shared his thoughts on what he believes the metaverse is metamorphosing into in the near future.

Speaking at the Future Blockchain Summit, the veteran industry leader noted that the metaverse is not a central entity and is bound to stir the advent of new economies that will benefit its adopters.

In the explanation for his position about the highly talked-about marketplace, Siu said industries cannot be quantities based on a single metric, and that the collective performance of key offshoots of the ecosystem often comes together to make a whole.

“Metaverse to us is a whole economy. We don’t want to measure the future of these companies using PNL, we want to measure it in terms of GDP. Just like we can’t define Ethereum’s value by how much gas it generates but rather its utility as a whole, in the same way, the metaverse is an all-accomplishing picture. So, thematically, it’s a metaverse; but practically, itu2019s digital ownership.”

Siu faults the usurping role big tech companies like Google and Facebook have played in the evolution of the gaming industry thus far. According to him, the bigger portion of the more than $200 billion industry is controlled by big tech with little going to the game developers and almost nothing to players.

Per the model of Web3.0, Siu believes this anomaly will be corrected, creating an economy whereby everyone will be fairly compensated for their participation in the ecosystem.

“More than half of the value that is generated in the gaming industry goes to Apple, Facebook and Google. How much of that goes back to the gaming industry? Zero. This is the issue today, and it makes the ecosystem unhealthy.”

Yat Siu, whose company owns The Sandbox metaverse and has invested in hundreds of gaming protocols believes GameFi is one of the contending avenues by which users will be onboarded into the Web3.0 industry.

Animoca Brands to Focus on Markets Outside U.S. after SEC Labels Sand Cryptocurrency an Unregistered Security

According to a report by South China Morning Post (SCMP), Hong Kong-based blockchain giant, Animoca Brands, has announced its plans to shift its focus to markets outside the U.S. This strategic move comes in the wake of the U.S. Securities and Exchange Commission’s (SEC) decision to label the firm’s Sand cryptocurrency token as an unregistered security, amid recent lawsuits against major crypto exchanges Binance and Coinbase Global.

Sand is the native crypto token used by Animoca’s metaverse platform, The Sandbox. It was among more than a dozen tokens explicitly labeled as securities by the SEC, a list that also includes Solana, Polygon, and Mana – the token used in the Decentraland virtual world. This decision by the SEC has elevated the legal risks for any company involved in selling these tokens.

Despite the regulatory challenges in the U.S., Animoca Brands remains optimistic about its global operations. The company’s co-founder and chairman, Yat Siu, commented in an email, “Animoca Brands is not focused on a single territory but operates globally. The SEC focuses on the U.S., so that should not have an impact on Animoca Brands in broader markets where Sand is widely available and accepted, including in more progressive jurisdictions like Hong Kong and Japan.”

Siu also disclosed that Animoca has already initiated measures to emphasize more on other markets in response to the recent “blockchain-hostile” approach observed in the U.S. This strategic shift represents Animoca’s adaptive response to the evolving regulatory landscape and is reflective of a broader industry trend towards seeking more cryptocurrency-friendly jurisdictions.

Animoca Brands subsidiary Forj Unveils $APE Accelerator to Boost ApeCoin Ecosystem

Animoca Brands subsidiary, Forj, has officially opened applications for the inaugural cohort of the $APE Accelerator, an initiative designed to propel the ApeCoin ecosystem forward. The $APE Accelerator is a community-centric Web3 platform funded by the ApeCoin DAO, aimed at fostering projects that amplify the utility and value of the ApeCoin (token symbol: APE).

Forj, a key player in the realm of Web3 technologies, is a subsidiary of Animoca Brands and is at the forefront of creating unique fan experiences through its range of products. Operating in the realms of Music, Entertainment, Gaming, and beyond, Forj has previously collaborated with notable names such as Grammy-nominated musician Lewis Capaldi.

With the launch of the $APE Accelerator, innovative Web3 projects now have a robust platform to bring their ideas to fruition. Successful applicants will have the opportunity to introduce their business concepts to a thriving ApeCoin community comprising over 200,000 members. This initiative comes on the back of the successful ratification of AIP-209, a proposal sanctioned via the ApeCoin DAO’s Idea Proposal (AIP) system.

The primary objective of the $APE Accelerator is to solidify the ApeCoin ecosystem by endorsing and funding projects that augment ApeCoin’s utility and value. APE token holders will be able to support endorsed projects via the APE Launchpad by acquiring NFTs and other tokens. Additionally, they will have a say in the approval of project proposals through a voting mechanism.

Harry Liu, CEO of Forj, remarked on the launch, “Today marks the beginning of a step change in innovation for the ApeCoin community. $APE Accelerator welcomes Web3 founders to apply now and join us in our mission to take the ApeCoin ecosystem to new heights.”

Yat Siu, the Co-founder and Executive Chairman of Animoca Brands, echoed these sentiments by highlighting the community-driven nature of $APE Accelerator. He noted that it embodies the spirit of Web3 entrepreneurship, empowering ApeCoin holders to steer innovation within the ecosystem they are part of. Siu anticipates that the $APE Accelerator will serve as a blueprint for future online ecosystem growth, with several groundbreaking projects expected to emerge from this program.

Animoca Brands subsidiary Darewise Entertainment Secures US$3.5M for Bitcoin Metaverse Ecosystem Token

Darewise Entertainment, a subsidiary of Animoca Brands, announced on 17 October 2023, a successful pre-sale event, accumulating US$3.5 million ahead of its Bitcoin metaverse ecosystem token launch. The funds are slated for the further development of the Bitcoin metaverse ecosystem under Darewise’s initiative, with a particular focus on their upcoming “AAA” MMO game, Life Beyond. This announcement follows the revelation made on 14 September 2023, regarding the launch of a new ecosystem token on the Bitcoin blockchain, with Life Beyond as its inaugural adopter.

The pre-sale saw participation from key gaming investors and Web3 venture capital entities like Gamefi Ventures, London Real Ventures, Citizen Capital, Blocore, Animoca Ventures, and Yat Siu, who is the co-founder and executive chairman of Animoca Brands. The wide array of investors from the gaming and Web3 culture signifies a robust confidence in Darewise’s project, resonating with the innovative integration of the Bitcoin ecosystem for a new digital experience.

The token, yet to be launched by Darewise, is envisaged to power a comprehensive ecosystem on the Bitcoin blockchain, encompassing gaming, brand collaborations, and In Real Life (IRL) experiences. Life Beyond is set to pioneer the utilization of the token, facilitating transactions for in-game assets, virtual lands, among other features. The ecosystem token is anticipated to be released in early 2024 with Horizen Labs, a notable technology provider who had earlier orchestrated the launch of ApeCoin, providing strategic support.

James Lim, the founder of Blocore, elucidated their investment decision stating, “We invested in Darewise and Life Beyond because we are drawn by its pioneering integration of the Bitcoin ecosystem and an immersive experience that promises to reshape the landscape of digital exploration and connectivity.” Similarly, a spokesperson from Citizen Capital, NEO Tokyo’s official venture capital arm, expressed their enthusiasm as early investors alongside Animoca Brands, highlighting the game’s impressive artwork, robust lore, and the promising team behind it.

Benjamin Charbit, the CEO of Darewise, acknowledged the significance of this round, welcoming investors who believe in their project and values. He emphasized the broad spectrum of investors as a strong indicator of faith in building on the Bitcoin ecosystem.

With the new Darewise ecosystem token expected to hit the market in early 2024, and with backing from Horizen Labs, the path is paved for an innovative gaming metaverse anchored on the Bitcoin blockchain. The CEO, investors, and the wider gaming community await with bated breath as Darewise’s project sets the stage for a new realm of digital interaction and economic transactions within the gaming world.

Prior to the successful fundraising of US$3.5 million by Darewise Entertainment for its Bitcoin metaverse ecosystem, another Animoca Brands subsidiary, Forj, had initiated a significant move to propel the ApeCoin ecosystem by launching the $APE Accelerator. This initiative seeks to endorse and fund projects, bolstering the utility and value of ApeCoin. The accelerator is a testament to the broader objective within Animoca Brands’ network to foster blockchain-centric innovation across various digital domains. The consecutive efforts by Forj and Darewise Entertainment highlight a structured approach by Animoca Brands to leverage and support blockchain technology, enriching the gaming and Web3 spaces respectively.

Animoca Brands' Yat Siu Foresees Fruitful 2024 with Strategic Investments and Partnerships Amid Rising Bitcoin Interest

Yat Siu, one of the co-founders of Animoca Brands, believes that the year 2024 will be a lucrative one for the firm. He attributes this success to the strategic investments and collaborations that the company will make. The growing interest that mainstream institutions are showing in Bitcoin is consistent with this optimistic outlook.

Animoca Brands made over seventy investments in 2023, and Yat Siu anticipates that these expenditures will result in favorable outcomes in the following year. The firm is in a position to capitalize on a variety of developing possibilities in the blockchain and cryptocurrency industries thanks to its aggressive investment approach.

Among the many noteworthy partnerships, one that sticks out is the one with the blockchain known as The Open Network (TON), which was revealed on November 28. As part of the validator agreement, this collaboration required the purchase of a quantity of Toncoin that was not revealed and the subsequent staking of that amount. Siu considers this agreement to be a big step toward broad onboarding and GameFi acceptance, particularly in light of the fact that Telegram has 800 million users enrolled now.

The purchase of the social casual gaming platform Gamee by Animoca in July of 2020 was another key step made by the digital entertainment company. Gamee’s business viability is expected to improve as a result of its integration with Telegram, which now makes it possible to monetize games. This connection makes use of the latest integration that TON has implemented, which makes it easier to display advertisements and make in-app payments on Telegram.

The resurgence of the NFT market, which is being driven by long-term holders who appreciate the fundamentals and projects that lie under the surface, was another topic that Siu discussed. This rebound indicates that neither metaverse projects nor non-fungible tokens (NFTs) will have a difficult time in the future.

The optimistic prognosis that Siu has for the year 2024 is supported by a number of macro variables, which Siu cites as some of the reasons that influence positive sentiment. Among them are the rising expectation around Bitcoin spot exchange-traded funds in the United States, the conclusion of legal concerns like as the criminal trial of Sam Bankman-Fried, and the major deal that Binance reached with American authorities. As a result of these changes, Siu believes that the bitcoin industry will be in a much more stable and transparent environment in the year 2024.