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Animoca Brands:Meta’s $10B metaverse investment is ‘not enough’

TechCrunch· 1 min read

Yat Siu, the co-founder and executive chairman of Animoca Brands,has a lot of thoughts about the metaverse,he thinks $10 billion is not enough for Facebook to succeed.

According to Yat Siu, the key thing that makes a metaverse a true metaverse is property rights. Billions of dollars are transacted in the open metaverse space,actually much more when you consider fungible tokens. At TechCrunch Disrupt, he shared his thoughts about Meta’s take on the metaverse.

Animoca Brands’ strategy is investing in the web3 ecosystem.Animoca Brands owns The Sandbox and has investments in many different web3 companies, such as OpenSea, Dapper Labs and Axie Infinity. There are 380 companies in the group and portfolio. Thirty of them are subsidiaries. Animoca Brands is technically an Australian company with a headquarters in Hong Kong and nearly a thousand employees.

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