Tech innovation and venture investment with a Silicon Valley view of global trends
Saturday, April 23, 2022
"Mr. Metaverse" And His Web3 Bet Against Facebook
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.