The crypto community has been engaged in a long-standing debate regarding which blockchain use case will lead to widespread mass adoption. While some believe that Bitcoin’s store-of-value nature is the key, others argue that nonfungible tokens (NFTs) hold untapped potential for explosive growth.
Yat Siu, co-founder and chairman of Animoca Brands, has a different perspective. According to him, gaming will be the primary driver of mass adoption, and we are closer to that reality than many realize.
During a recent episode of Decentralize with Cointelegraph recorded at the Consensus 2024 conference in Austin, Texas, Siu expressed his belief that mass adoption could occur within the next 12 to 18 months. He attributed this optimism to the abundance of tools available for distributing Web3 applications.
Siu predicts that even established players like Apple, Google, and Valve’s Steam, who have historically resisted Web3 technology, will eventually join the revolution. He foresees a floodgate opening once these companies embrace blockchain, leading to even greater mass adoption.
The co-founder of Animoca Brands emphasized the social nature of gaming as the catalyst for mass adoption. He highlighted the importance of community within blockchain networks, regardless of whether they are used for gaming, SocialFi, or DeFi systems.
In addition, Siu addressed the misconception that the metaverse is dead, asserting that it is very much alive and evolving. He differentiated between Facebook’s failed attempt to rebrand itself as Meta and the thriving open metaverse, which he sees as a $2.5 to $2.6 trillion space.
For more insights from Siu, including his thoughts on memecoins, financial education, and Animoca Brands’ investment strategy, listen to the full episode of Decentralize with Cointelegraph on Cointelegraph’s podcast page, Spotify, Apple Podcasts, or your preferred podcast platform. Be sure to explore Cointelegraph’s full lineup of shows as well.