<\/p>\n
Yat Siu, the co-founder and executive chairman of Animoca Brands, has a lot of thoughts about the metaverse. That\u2019s because his company owns The Sandbox and has investments in many different web3 companies, such as OpenSea, Dapper Labs and Axie Infinity. At Disrupt, he shared his thoughts about Meta\u2019s take on the metaverse.<\/p>\n
\u201cThey said they\u2019re going to spend $10 billion a year to make the metaverse work. Well, here\u2019s the thing \u2014 we think $10 billion is not enough for Facebook to succeed,\u201d Yat Siu said. \u201cBillions of dollars are transacted in the open metaverse space \u2014 actually much more when you consider fungible tokens. Most of the value goes to the end user, so why would I transact on something like Meta \u2014 regardless of its visuals \u2014 when I have to give half of it to the platform?\u201d<\/p>\n
\u201cWhereas if I use Sandbox, I get 95% of it. It just doesn\u2019t make any sense for me to do that, economically speaking. And because billions of dollars of value are already generated in an open way, why would I surrender that value? So Facebook would have to spend a lot more to incentivize people to go into its platform.\u201d<\/p>\n
But that doesn\u2019t mean that Zuckerberg is the wrong person to head up this project. \u201cI would say that certainly Zuckerberg did get it right in terms of construction. Remember, he tried to put out Libra, right?\u2026 So he understands blockchain,\u201d Yat Siu said.<\/p>\n
But what is the metaverse exactly? A lot of people are still arguing about that. Some people think it\u2019s online universes, others think it involves virtual reality. According to Yat Siu, the key thing that makes a metaverse a true metaverse is property rights.<\/p>\n
\u201cJust how George Washington said that you can\u2019t have basically, freedom without property rights, we think the same is true with digital. You can\u2019t have digital freedom without digital property rights. So our perspective on the open metaverse is that it has to start with a foundation of ownership. And that\u2019s where The Sandbox stands out,\u201d he said.<\/p>\n
Animoca Brands is much bigger than The Sandbox. There are 380 companies in the group and portolio. 30 of them are subsidiaries. Animoca Brands is technically an Australian company with a headquarter in Hong Kong and nearly a thousand employees.<\/p>\n
It\u2019s quite easy to sum up Animoca Brands\u2019 strategy. The company is investing in the web3 ecosystem because there are some strong network effects. It is betting on a web3 rising tie that could lift all boats.<\/p>\n
\u201cThe economy activity around the ownership of cars is much bigger than the sales of cars,\u201d Yat Siu said. He mentioned Uber, Lyft and car wash are examples of businesses that work without selling cars.<\/p>\n
\u201cFor instance, when we made our first check in OpenSea, which had very a small valuation back in 2018-2019, it wasn\u2019t because we hoped that OpenSea would be a decacorn,\u201d he said. \u201cWe did it because OpenSea had lots of NFT work and relatively good NFT volume. We would help push that and we would have our own NFT sales and every company we invest in could sell on OpenSea.\u201d<\/p>\n
In other words, if web3 becomes a huge thing, it\u2019s clear that Animoca Brands is well positioned to become a key player in the space.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"
Yat Siu, the co-founder and executive chairman of Animoca Brands, has a lot of thoughts about the metaverse. That\u2019s because his company owns The Sandbox and has investments in many different web3 companies, such as OpenSea, Dapper Labs and Axie Infinity. At Disrupt, he shared his thoughts about Meta\u2019s take on the metaverse. \u201cThey said […]<\/p>\n","protected":false},"author":1,"featured_media":1230294,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[21],"tags":[],"class_list":["post-1230292","post","type-post","status-publish","format-standard","has-post-thumbnail","category-celebrity-gossip"],"_links":{"self":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1230292","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/comments?post=1230292"}],"version-history":[{"count":0,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1230292\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/media?parent=1230292"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/categories?post=1230292"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/tags?post=1230292"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}