tl;dr
Animoca Brands Chairman Yat Siu discusses the enduring significance of NFTs amid the rise of meme coins at the Foresight 2024 event in Hong Kong. He emphasizes the unique value of NFTs for reputation-building in the Web3 space and announces Animoca Brands' partnership with ZetaChain, becoming the bl...
Animoca Brands Chairman Yat Siu discusses the enduring value of NFTs amidst the meme coin trend and emphasizes the importance of reputation in the Web3 space. Animoca Brands partners with ZetaChain to accelerate multi-chain interoperability and digital asset adoption, aiming to address crypto fragmentation and enhance the Web3 sector.
Animoca Brands Chairman Yat Siu addresses the rivalry between NFTs and meme coins. The company partners with ZetaChain, becoming the blockchain’s latest validator. Siu says that the non-fungible nature of NFTs keeps them unique in the industry.
Animoca Brands chairman Yat Siu believes NFTs have staying power, even during the current meme coin craze. Siu shared his insights at the Foresight 2024 event, highlighting the unique value of NFTs for building reputation in the Web3 space. Siu’s comments also coincided with Animoca Brands’ strategic partnership with ZetaChain, with Animoca becoming the latest validator on the blockchain.
In a subsequent development, Animoca Brands announced its alliance with ZetaChain, the first universal blockchain, via an X post on August 13. The joint venture aims to bring seamless multi-chain connectivity and broader crypto adoption to the industry. Siu shared the excitement on the partnership stating: “We are excited to partner with ZetaChain and become a validator of this first universal blockchain, helping make multi-chain connectivity more seamless. This collaboration furthers our mission to drive innovation and decentralization across the broader Web3 ecosystem.”
During the Foresight 2024 event, Siu also stressed the importance of Web3 for reputation management. He observed many in the industry are still to recognize their Web3 persona as a reflection of their reputation. He added that as Web3 develops, users will definitely identify its worth, where NFTs will play an indispensable role. Notably, one of the key goals of the Animoca Brands-ZetaChain alliance is on tackling crypto fragmentation. They are working to develop Universal Apps that could enable easy access to native assets and data across multiple blockchains, aiming to enhance the Web3 sector at the same time address its current challenges.
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