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KEY POINTS
- Yat Siu, executive chairman of Hong Kong-based metaverse start-up Animoca Brands, says that as new technology worlds are being built around the Web 3 idea, the biggest threat isn’t regulation but companies like Facebook and Tencent.
- Animoca is valued at over $5 billion, turned profitable in 2021, has over $15 billion in digital asset and token reserves, and is raising another $150 million this month.
- The college drop-out who was born and raised in Vienna as the only child of professional musicians discovered at an early age an affinity for computers, which led to a job at Atari, founding his internet service provider at the age of 20, and selling a previous start-up to IBM.
- Read more at CNBC, by correspondent Rebecca Fannin
