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Blockchain Investor Lays Out Master Plan For Crypto Recovery

Blockchain Investor Lays Out Master Plan For Crypto Recovery

One of Asia’s largest blockchain tech investors is assembling a vast portfolio of finance, gaming and social media companies as a challenge to more established empires.

According to Hong Kong-based Animoca Brands Manager Yat Siu, the goal is to give people ownership of their virtual properties and break meta-platforms and Microsoft, which he describes as “digital dictatorships”.

Siu’s strategy was born in light of the 2018 crypto crash, when he turned his small video game studio into a crypto investor. The startup took a stake in the owner of CryptoKittiesa Pokemon-like game with virtual cats that can be bought and sold with digital money. Buoyed by his success, he kept buying.

Four years later, Animoca has become one of the biggest players in crypto, counting Sequoia Capital and George Soros as investors. Animoca’s flagship carrier is Vietnamese game company Sky Mavis, which produces the blockchain video game Axie Infinity.

“If people say it’s a crypto winter, then 2018 was the ice age of crypto,” says Siu. “Now is the time to deploy more capital, not less.”

According to a Bloomberg reportthe gaming economy has grown rapidly, in part due to the popularity of digital collectibles.

This, in turn, attracted wealthy players to the platform. But the crypto crash has hit Axie Infinity hard, with its daily users dropping to 250,000 from a peak of over two million last year.

The road to becoming blockchain unicorns

A study by KPMG and HSBC has identified a handful of Web3 companies in Asia-Pacific that could become unicorns in the next 10 years.

A recent study showed that there are over 6,000 tech startups in the Asia-Pacific (APAC) region alone, many of which are focused on non-fungible tokens (NFT) and decentralized finance (Challenge).

Reports indicate that despite the tough crypto market conditions, some companies have the ability to become unicorns.

According at KPMG and HSBC, Stader Laboratories, a Singaporean Challenge platform, Catheon Gaming and Hex Trust could be valued at $1 billion when the crypto winter begins to thaw.

And markets in the Asia-Pacific region with China, Hong Kong, India, Japan and Australia will lead the pack.

Animoca’s portfolio is growings

The most recent Fund raising round attracted a variety of opinions from all sides of the crypto industry. Yat Siu of Animoca Brands said the company was “deeply pleased” with investor confidence in the face of the crypto winter.

The Animoca platform has extended its reach to the entire crypto ecosystem. The company’s portfolio includes more than 150 NFT-related projects, some of which include OpenSeaAxie Infinity, Sandbox and Dapper Labs.

Animoca has expressed a desire to go public within the next two to three years. However, this will depend on what form a crypto recovery takes and how quickly it is performed.


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