Yat Siu, founder of Animoca Brands and a prominent figure in the crypto world, recently partook in an industry conversation at the company’s headquarters, popularly known as the “Satoshi room” conference hall. Siu was joined by Yaros Belkin and Mauricio Silvestris and the discussions were as enlightening as one would expect from these industry heavyweights.
The discussion followed a Stradivarius concert Siu had attended, featuring the “Empress Caterina” Stradivarius violin, an instrument he happens to own. Drawing parallels between the rarity of the violin and the potential future of the crypto market, Siu asserted, “The instrument is a naturally growing asset because of the scarcity. Stradivarius increases by about 10-15% per year historically. But of course, who cares about that? Only a certain group of people […] You might see liquidity and money, but that’s what we say. But a musician in classical music will understand the value of Stradivarius and he’ll appreciate that, but also he’ll appreciate how to value it.”
Siu also emphasized the importance of understanding the crypto market and Web3 industries. He argued that the benefits of these industries can only be reaped by those who deeply care about them and make an effort to understand the concepts they promote. He believes, “We need to teach money right at the primary school level.” According to him, the world has now become divided between people who understand money and capital and those who still think in terms of classic labor concepts.
When asked by Silvestris how the crypto community can communicate the value of crypto to the entertainment industry, Siu had a simple response. He said there’s no need to. Instead, he emphasized the importance of understanding the power of network effects and explained how Web 3 is bringing back the concept of ownership that was taken away when the entertainment industry shifted to streaming.
Siu also addressed the issue of authenticity in the age of AI and digital replication. He argued that blockchain provides a solution by preserving the originality of a work. According to him, artists need to manage their brand effectively, just as photographers had to do when photography transitioned to digital.
On the topic of Mocaverse and Moca ID, Siu sees these as tools for building a reputation. He said, “You’re building your reputation. So if I have a Moca ID, I have a reputation, I can build on top, I now have this identity, and this identity builds value on top.”
Siu ended the discussion with a commentary on the role of memecoins, clarifying that he is not anti-Memecoins. He touched on recent events involving TRUMP, MELANI, and LIBRA coins, and expressed optimism for the future, saying “we’re going to enter an era where people are going to be much more interested in projects that are focused on something that they can believe in.”
These insights from a crypto pioneer like Siu are invaluable for anyone interested in the future of this industry. The discussion shed light on the importance of understanding and appreciating the nuances of the crypto market, the transformative potential of Web3, and the critical role of authenticity in the digital age.
