The co-founder of Hong Kong-based game software company and venture capital firm Animoca Brands predicts that the value of the global cryptocurrency ecosystem will experience exponential growth in the coming years, potentially increasing up to 200 times in a decade. Currently valued at around $2.7 trillion, the cryptocurrency market is expected to double or triple soon, according to Yat Siu in a recent episode of The Valr Podcast. Siu expresses confidence that the industry will continue to reach new milestones, stating that within a five or 10-year period, he expects the space to accelerate 100 to 200 times, reaching $200 trillion or even more within a decade.
Siu attributes this projected growth to the billions of people who will become digital property owners in the Web3 ecosystem. He believes that it is entirely possible to have a billion property owners because there will be a billion token holders, an accomplishment that is not feasible in the physical world.
In addition, Siu notes that Asia has emerged as the fastest-growing Web3 market, surpassing jurisdictions like the United States. He explains that Asia, particularly Southeast Asia, Hong Kong, and Japan, has seen solid adoption levels in Web3 technologies. Siu suggests that the United States has fallen behind in this area due to regulatory uncertainties. He believes that Asia will continue to lead the way in Web3.
Siu’s positive outlook on the growth of the Web3 market is consistent with his bullish stance on Bitcoin, the largest cryptocurrency by market value. Siu has previously predicted that Bitcoin will eventually reach $1 million. Currently trading at $67,750, Bitcoin is still far from reaching that forecasted price.
In related news, Web3 Gamer magazine reports that developers are quitting after Torque Drift 2 adds cryptocurrency, highlighting a significant problem with MetaFighter.