The crypto community has long debated which blockchain use case will lead to widespread mass adoption. While some believe Bitcoin’s store-of-value nature holds the key, others see nonfungible tokens (NFTs) as a potential game-changer.
For Animoca Brands co-founder and chairman Yat Siu, gaming is the primary catalyst for mass adoption, and he believes we are closer to that future than many realize.
In a recent episode of Decentralize with Cointelegraph recorded during the Consensus 2024 conference in Austin, Texas, Siu expressed his belief that mass adoption could happen within the next 12 to 18 months. He cited the increasing availability of tools for distributing Web3 applications as a key factor in making this timeline achievable.
Siu also predicted that even traditional players like Apple, Google, and Valve’s Steam, who have historically resisted Web3 technology, will eventually join the revolution. He emphasized the potential for massive adoption once these companies embrace the new technology.
The co-founder of Animoca Brands sees gaming as the driving force behind mass adoption because of its inherently social nature. Siu highlighted the power of blockchain communities and the social connections they foster, whether in gaming, SocialFi, or DeFi systems.
Regarding the metaverse, Siu dismissed reports of its demise, asserting that it is very much alive. He differentiated between Facebook’s rebranding to Meta and the true concept of the metaverse, which he believes is thriving in the Web3 space.
In conclusion, Siu views the Web3 space as an open metaverse with virtual opportunities and tangible value, representing a thriving market worth trillions of dollars.
To hear more insights from Yat Siu on topics such as memecoins, financial education, and Animoca Brands’ investment strategy, listen to the full episode of Decentralize with Cointelegraph on Cointelegraph’s podcast page, Spotify, Apple Podcasts, or your preferred podcast platform. Don’t forget to explore Cointelegraph’s full lineup of other shows for more engaging content.