Animoca Brands's CEO Robby Yung has affirmed the company's commitment to supporting the creator economy and advancing Web3 mass adoption through its 2024 initiatives.
Speaking at the 12th Global Blockchain Congress in Dubai to Cointelegraph, Yung highlighted gaming as a primary driver for Web3 adoption, while also exploring education and other sectors to empower creators with efficient infrastructure and network effects.
He emphasized the role of publisher nonfungible tokens (NFTs) in enabling content creators to monetize their work in a decentralized, equitable, and lucrative environment, and cited the example of Animoca's ed-tech subsidiary TinyTap, which integrates co-publishing rights for educational content. This approach, Yung believes, will allow educators to distribute content directly to students, enhancing peer-to-peer relationships.
The CEO also pointed out the challenges creators face on Web2 platforms, including limited control and inadequate compensation. He stressed the importance of a frictionless experience in Web3 platforms, allowing creators to directly engage with their audience.
“By empowering teachers, for example, through these publisher NFTs, we’re giving them a set of tools, which allows them to monetize the content they already make, and do it in a way that’s much more frictionless and benefits them more directly.”
Animoca is also focusing on interoperability within the Web3 sphere, as part of its strategy to enhance adoption. Yung mentioned the Mocaverse project, aimed at unifying gamification and identity systems across various Web3 applications. He also referred to Animoca's participation in the Open Metaverse Alliance for Web3, which seeks to establish interoperability standards industry-wide.
Over the next year, Animoca will concentrate on the Mocaverse platform alongside other initiatives like the REVV Racing motorsports ecosystem and partnerships with the social casual gaming platform Gamee and TON Foundation. While Animoca does not have a fixed investment strategy, Yung expressed optimism for 2024 and the intention to continue investing in new and existing businesses.
Related: Animoca’s Yat Siu bullish on TON partnership as Bitcoin sets strong foundation for 2024
In 2023, Animoca has invested in over 30 projects and nearly 500 to date, spanning infrastructure, gaming, metaverse, music, art, and decentralized finance (DeFi). Yung's vision for Animoca Brands in 2024 is not only to continue these investments but also to foster a more inclusive and empowering ecosystem for content creators across various industries.
“We are optimistic for 2024, so we will definitely continue deploying resources into new businesses as well as the existing portfolio,” he said.