The debate rages on in the world of cryptocurrency regarding which blockchain use case will lead the way to widespread mass adoption. Some believe Bitcoin’s store-of-value nature is the key, while others see the potential for nonfungible tokens (NFTs) to revolutionize the industry. However, according to Yat Siu, co-founder and chairman of Animoca Brands, gaming will be the primary driver of mass adoption, and this future is closer 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 will happen within the next 12 to 18 months. He attributed this accelerated timeline to the abundance of tools available for distributing Web3 applications. Siu anticipates that even major players like Apple, Google, and Valve’s Steam, who have been resistant to Web3, will eventually join the revolution, leading to even greater mass adoption.
Siu emphasized the social aspect of gaming as the key to its potential for mass adoption. He explained that blockchain’s power lies in its social community, whether in gaming, SocialFi, or DeFi systems. Siu sees gaming as a mechanism for building strong social connections, making it an ideal platform for driving mass adoption.
Regarding the metaverse, Siu dismissed claims that it is dead, stating that it is thriving in a different form than what was initially envisioned by companies like Facebook (now Meta). He described the Web3 space as a vast “open metaverse” where virtual opportunities translate into tangible value. Siu believes this open metaverse is already a thriving space with a value of $2.5 to $2.6 trillion.
For more insights from Siu, including his views on memecoins, financial education, and Animoca Brands’ investment strategy, listeners can tune in to the full episode of Decentralize with Cointelegraph on Cointelegraph’s podcast page, Spotify, Apple Podcasts, or other podcast platforms. Check out Cointelegraph’s lineup of other shows for more engaging content.
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