Siu acknowledges that understanding NFTs and related technology may be challenging for some, but he believes that over time, more accessible routes will emerge. He views the movement as a form of "digital capitalism" and sees blockchain technology as a solution to many of the world's biggest problems. Despite some negative perceptions of the crypto industry, Siu argues that blockchain technology provides a fully auditable system for verifying information, which was initially created as an alternative to traditional financial systems.
Key takeaways:
- Animoca Brands’ chairman and co-founder, Yat Siu, believes that the rise of AI and content creators increases the need for NFTs, which he sees as "digital stores of culture".
- Siu suggests that NFTs could provide alternative avenues for monetization, particularly for individuals in low-income situations, by allowing them to create and sell digital assets.
- He also sees potential for NFTs to protect intellectual property rights, allowing creators to claim ownership and monetize their original content.
- Despite the complexity of the technology, Siu believes that over time, more accessible routes will emerge, making NFTs and blockchain technology a viable solution to many of the world's biggest problems.