As the West is increasingly polarized between “capitalism and anti-capitalism,” Animoca Brands cofounder Yat Siu thinks Asia can lead the way in pioneering the next wave of AI and cryptocurrency innovations.
“Based on my experiences in crypto communities in Europe and the U.S., people are creating a gap between crypto and AI and saying that they shouldn’t be related,” Siu told Fortune on the sidelines of the SuperAI summit in Singapore. “In Asia, we don’t have this problem since we’re much more comfortable with money.”
Siu cofounded Animoca Brands in 2014. It originally focused on developing free-to-play mobile games before shifting to blockchain gaming and NFTs in 2018. The firm is also a frequent investor in the Web3 space, backing more than 600 AI and blockchain companies including China-based investment platform GROW Digital Wealth and AWARP, parent company of the Laos National Digital Technology Group.
Investor interest in cryptocurrencies has waned. Shares in crypto-related companies have plunged by double-digit percentages over the past 12 months, while AI-related stocks are booming. Crypto-focused venture capital firms, like Paradigm, are also expanding into AI and robotics investments.
