This summary text is fully AI-generated and may therefore contain errors or be incomplete.
Hong Kong-based gaming company Animoca Brands plans to continue supporting the creator economy and promoting interoperability in 2024 to drive mass adoption of Web3. CEO Robby Yung believes that gaming will play a crucial role in Web3 adoption due to its broad appeal. However, the company is also exploring other sectors like education to provide efficient infrastructure and network effects for creators.
Yung highlighted the benefits of Web3 tools, such as publisher nonfungible tokens (NFTs), which allow content creators to monetize their work in a decentralized environment. Animoca’s subsidiary, TinyTap, introduced the concept of publisher NFTs to enable educators to monetize their content and have direct relationships with their students.
The CEO emphasized the challenges faced by creators on Web2 platforms, including lack of control and fair compensation. Animoca aims to provide a frictionless experience for creators to have direct relationships with their audience.
Interoperability within the Web3 sphere is a key focus for Animoca. The company’s Mocaverse project aims to streamline gamification and identity systems across different Web3 applications. Yung also actively participates in the Open Metaverse Alliance for Web3 to promote interoperability standards.
Animoca plans to prioritize the Mocaverse platform and expand its partnership universe in the next 12 months. The company also expressed confidence in its REVV Racing motorsports ecosystem and other initiatives, including partnerships with Gamee and the TON Foundation.
While Animoca does not have a specific investment strategy, Yung stated that they support as many good opportunities as possible. The company has invested in over 30 projects in 2023 and nearly 500 to date, with a focus on infrastructure, tooling, gaming, metaverse, music, art, and decentralized finance (DeFi).
In conclusion, Animoca Brands is committed to supporting the creator economy, promoting Web3 adoption, and driving interoperability within the industry. The company’s investments and initiatives aim to empower content creators, provide a more equitable platform, and foster direct relationships with their audience.