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Understanding Yat Siu and Animoca Brands: A Beginner’s Guide
Hey everyone, John here! This week, we’re diving into the story of Yat Siu and his company, Animoca Brands. You might not have heard of them, but they’re a pretty big deal in the world of “Web3.” Don’t worry if that sounds like gibberish; we’ll break it down!
Lila, you look confused. What’s up?
Lila: What even *is* Web3? It sounds like something out of a sci-fi movie!
Great question, Lila! Imagine the internet as we know it now (Web2) – it’s where big companies like Google and Facebook kind of control everything. Web3 is like a new version of the internet where things are more decentralized, meaning the power is spread out among more people, and individuals have more control over their data and digital assets. Think of it like switching from renting a house to owning your own land.
Animoca Brands: A Web3 Unicorn
So, Animoca Brands is a company that’s all about Web3, especially when it comes to gaming. They’re what’s called a “unicorn,” which means they’re a privately held startup company valued at over $1 billion.
Lila: A unicorn? Like, with a horn?
Haha, not exactly! It just means the company is worth a whole lot of money – over a billion dollars! It’s a term used in the business world to describe very successful startups. In the tech world, these companies are rare and magical, just like unicorns!
Conviction and Building the Future
The original article highlights Yat Siu’s strong belief in Web3. He’s not just following a trend; he genuinely believes this is the future of the internet. He’s building Animoca Brands based on that conviction, even when others might doubt the whole idea.
Think of it like building a house. You need to have a strong foundation and believe in your design, even when the weather is bad, or people tell you it won’t work. Yat Siu is building the foundation for Web3 gaming!
What Does Animoca Brands Actually Do?
Animoca Brands is involved in a bunch of different things related to Web3 gaming:
- Investing in Web3 Companies: They give money to other companies that are building cool stuff in the Web3 space. It’s like giving seeds to farmers so they can grow more food.
- Developing Games: They create their own games that use blockchain technology and NFTs (Non-Fungible Tokens).
Lila: Okay, NFTs… that’s another one. What’s a Non-Fungible Token? It sounds complicated.
It does sound complicated, but it’s actually a pretty simple concept. Think of it like a digital collectible, like a baseball card, but instead of being made of cardboard, it exists on the blockchain. “Non-fungible” just means it’s unique and can’t be replaced by something else. So, each NFT is one-of-a-kind and can be bought, sold, and traded.
Why is This Important?
Animoca Brands is trying to create a world where gamers actually own the things they earn and buy in games. Right now, in most games, you spend money on items, but you don’t really “own” them. If the game shuts down, you lose everything.
With Web3 gaming, using things like NFTs, players can truly own their in-game assets. They can trade them, sell them, or even use them in other games (if the games allow it). It’s like owning a toy that you can play with in different houses.
The Future of Gaming and the Metaverse
Animoca Brands is also interested in the “metaverse,” which is a fancy word for a shared digital world.
Lila: The metaverse? Is that like in those virtual reality movies?
Kind of! Think of it as a digital world where you can interact with other people, play games, attend events, and even buy and sell things. It’s like a more immersive version of the internet. Animoca Brands wants to build games and experiences that will be part of this metaverse.
My Thoughts (John’s Perspective)
I think what Yat Siu and Animoca Brands are doing is really interesting. Whether Web3 becomes the next big thing remains to be seen, but their focus on giving players more ownership and control is definitely a step in the right direction. It’s exciting to see how gaming might evolve with these new technologies.
Lila’s Perspective: Wow, this is all a lot to take in! But I think I’m starting to get it. It sounds like Web3 could make the internet a fairer place, especially for gamers. I’m curious to see what happens next!
This article is based on the following original source, summarized from the author’s perspective:
Conviction over doubt: Yat Siu on building web3’s most
influential unicorn
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