Yat Siu on Animoca & NFT Boom

According to event reports, Yat Siu will attend the Global Blockchain Show in Dubai on December 12th and 13th. Yat has been passionate about tech and finance from the start and strongly believes that the future of the Internet lies in decentralization.

Yat Siu highlights crypto’s major advancements

Yat Siu’s stance on the shift toward decentralization is shaped by Animoca’s involvement in Web3 and everything that encompasses the ecosystem. With Animoca, Yat has been behind games, including The Sandbox, Crazy Kings, and Crazy Defense Heroes.

Currently, in a podcast focusing on the Global Blockchain Show, Yat dives into his love for gaming and how it is all tied together on-chain. He got into the industry through CryptoKitties and how that later influenced the Ethereum trade.

He adds, “The fun part about this was that we were basically breading kitties on-chain […] at that point NFTs and ERC-721 were weird terms many people hadn’t heard about.” However weird it was, people made purchases, and that ushered in a new era in crypto.

He argues that NFTs give traders an industrial status just like a Picasso, a Rolex watch, or a Lamborghini would. Yat is of the idea that NFTs and the metaverse are not dead; rather, they have transitioned into something else: memecoins.

He adds, “I would say NFTs back in 2021 – 2022 are memecoins today. Many of the constructions of the ideas today we have with NFTs, whether cultural, social or with some economic value, is actually the same narrative we have today with memecoins.”

He states that the only difference is that memcoins have more economic value than NFTs. Also, NFTs introduced their own tokens to gain more reach, and now memecoins are introducing their NFTs for the same reason: reach and adoption.

Fun fact – Yat Siu expects that memcoins will soon start launching their own metaverses, completely abandoning the metaverse view tied to Mark Zuckerberg.