- Siu writes that tokens offer a novel means to own a piece of the network effect
- The CEO has penned a useful guide that only reiterates Animoca’s passion and prospects
Ever wondered “What is the exact purpose of a token and why would a project want one?” Well, you’re in luck as Animoca Brands co-founder and executive chairman Yat Siu has just released an essay to put an end to any doubt and confusion as to what Animoca Brands is all about.
The move comes hot on the back of the company’s recent turnaround first quarter figures and ongoing rumours of an IPO.
Seems that if you have any lingering doubts about Animoca’s success so far and position to succeed in the future, Siu has got you covered.
The beginner’s guide to web3
According to his Vision Essay, Siu writes that tokens offer a novel means to own a piece of the network effect. And ‘the network effect’? Siu describes this as the increasing value of a network as more users join – a crucial factor in getting web3 services and monetisation off the ground. He also clarifys that tokens serve multiple purposes; from fundraising tools to representing a new way of owning assets that previously lacked ownership constructs.
Siu’s explanation reaffirms the company’s commitment to maintaining interest and value in web3. And – it seems – if that means that the CEO has to write ‘a guide to web3’ for those that don’t understand it and their business, then that’s what he’s willing to do.
And the Mocaverse?
With web3, wallets, transactions and tokens aced, Siu then tackles the issue of the metaverse. Or – in Animoca’s case – their own Mocaverse.
Siu describes the Mocaverse as: “An interoperable infrastructure stack created to enhance network effects and bring together various cultural economies for maximum mutual benefit.” There you are. Simples.
“It integrates diverse sectors including gaming, music, sports, anime, NFTs, digital identifiers (DID), and many more into a cohesive ecosystem where the success of one segment translates into benefits for the broader ecosystem. Building in the Mocaverse will lay the foundation for anyone to benefit from the Animoca Brands ecosystem,” he says.
Siu’s post all adds up to a useful guide, not only for getting a grip on the state of web3, the metaverse, NFTs and more, but also for spelling out Animoca’s passion for the field and its persistent belief that they remain ideally placed make good on web3’s promise.
