Animoca Brands' Yat Siu Foresees Fruitful 2024 with Strategic Investments and Partnerships Amid Rising Bitcoin Interest
Rebeca Moen Dec 07, 2023 10:20
Yat Siu of Animoca Brands predicts profitable outcomes in 2024 due to increased Bitcoin interest among mainstream institutions.
Yat Siu, one of the co-founders of Animoca Brands, believes that the year 2024 will be a lucrative one for the firm. He attributes this success to the strategic investments and collaborations that the company will make. The growing interest that mainstream institutions are showing in Bitcoin is consistent with this optimistic outlook.
Animoca Brands made over seventy investments in 2023, and Yat Siu anticipates that these expenditures will result in favorable outcomes in the following year. The firm is in a position to capitalize on a variety of developing possibilities in the blockchain and cryptocurrency industries thanks to its aggressive investment approach.
Among the many noteworthy partnerships, one that sticks out is the one with the blockchain known as The Open Network (TON), which was revealed on November 28. As part of the validator agreement, this collaboration required the purchase of a quantity of Toncoin that was not revealed and the subsequent staking of that amount. Siu considers this agreement to be a big step toward broad onboarding and GameFi acceptance, particularly in light of the fact that Telegram has 800 million users enrolled now.
The purchase of the social casual gaming platform Gamee by Animoca in July of 2020 was another key step made by the digital entertainment company. Gamee's business viability is expected to improve as a result of its integration with Telegram, which now makes it possible to monetize games. This connection makes use of the latest integration that TON has implemented, which makes it easier to display advertisements and make in-app payments on Telegram.
The resurgence of the NFT market, which is being driven by long-term holders who appreciate the fundamentals and projects that lie under the surface, was another topic that Siu discussed. This rebound indicates that neither metaverse projects nor non-fungible tokens (NFTs) will have a difficult time in the future.
The optimistic prognosis that Siu has for the year 2024 is supported by a number of macro variables, which Siu cites as some of the reasons that influence positive sentiment. Among them are the rising expectation around Bitcoin spot exchange-traded funds in the United States, the conclusion of legal concerns like as the criminal trial of Sam Bankman-Fried, and the major deal that Binance reached with American authorities. As a result of these changes, Siu believes that the bitcoin industry will be in a much more stable and transparent environment in the year 2024.
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