'Mr. Metaverse' on why he's placing a Web3 bet against Mark Zuckerberg
"Zuck gets that this change is coming," Siu said. "Meta has made all its money from Web2 models."
"Web3 represents an incredible opportunity and a threat," said early Uber investor and serial tech entrepreneur Shervin Pishekar. "The talent, energy and money that is going into it will create a perfect storm, a classic cycle of value creation and destruction," he said.
Animoca Brands has inked licensing and distribution deals with Atari, Formula 1 Racing, Warner Music Group and MGA Entertainment, and aligned through its deal-making with brands including Disney. It has developed 12 original games and made more than 200 investments. These forays include stakes in NFT marketplace OpenSea, blockchain game Axie Infinity and its Pokémon-like creatures, and Dapper Labs, with its CryptoKitties virtual felines and fantasy basketball game NBA Top Shot.
In a founder's letter last October announcing the company's new chapter, Zuckerberg acknowledged that the metaverse will unlock a massively larger creative economy than the one constrained by today's platforms and their policies. He noted that Meta's role is to accelerate the development of fundamental technologies, social platforms and creative tools to bring the metaverse to life, and to weave these technologies through our social media apps.
Since then, the company has grown to 600 employees and a presence in 14 markets internationally, and, according to Siu, turned profitable in 2021. For the first nine months of 2021, Animoca Brands generated $141 million in bookings and income of $530 million that included gains on digital assets and investments. Reserves of the company's digital assets and tokens were worth $15.9 billion in November 2021.
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