Yat Siu, the co-founder and executive chairman of Animoca Brands, is a well-known figure in the crypto space. Despite his success, Yat remains humble and down-to-earth, a stark contrast to the typical image of a crypto founder. Born in Vienna and raised in Hong Kong, Yat’s journey to success was unconventional. He studied music at his parents’ insistence but found his passion in tech, eventually landing a job at Atari.
Yat’s experiences growing up in various parts of the world, including Eastern Europe and Hong Kong, shaped his views on capitalism and socialism. He believes that web3 and tokenization can create a fairer form of capitalism, where everyone has ownership and stake in the network.
Animoca Brands, with a valuation of $5.9 billion in August 2022, is not just a gaming company but a pioneer in driving digital property rights and stakeholder capitalism. Yat emphasizes the importance of giving users a stake in the platforms they contribute to, citing examples like Apple and Uber.
As an early blockchain adopter, Yat and his team entered the space in 2017 because of NFTs. They were involved in shaping CryptoKitties and witnessed firsthand the scalability issues of early blockchains. Despite the challenges, Yat remains committed to building web3 and investing in companies that can help grow the ecosystem.
One of Animoca Brands’ top priorities is onboarding the masses to crypto, with a focus on gaming and education. Yat believes that gaming will be the catalyst for reaching a critical mass of users, and investments in projects like Pencil Finance aim to onboard students to web3 from a young age.
Yat’s resilience and strength of character have been tested over the years in the volatile crypto space. He emphasizes the importance of having conviction and staying true to your beliefs, even in the face of challenges.
Overall, Yat Siu’s journey from a “good Asian kid” studying music to an industry titan in web3 gaming is a testament to his vision and determination. Animoca Brands’ mission to drive digital property rights and stakeholder capitalism reflects Yat’s belief in creating a fairer and more sustainable form of capitalism through web3 and tokenization.