Animoca's Yat Siu Highlights Royalty's Role In The Upcoming Web3 Bullfight

Yat Siu, president of Animoca Brands and web3 investor, urges marketplaces to support creator royalties.

Crypto artists and creators should have the autonomy to set their own terms without needing permission from larger players, Siu tells The Block at NFT Paris .

Siu also criticizes models that reward merchants for creating cash instead of paying creators for their content, calling it "kind of an insult" and "an offense."

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The next bull run will be "culture-driven" and royalties are key to fueling businesses and creators, allowing them to continue to define the ecosystem, says Siu.

As for Animoca's latest fund, which aims to support early-stage companies, Siu expects it to close in the first quarter of the year , with multiple parties involved.

The company originally aimed to raise up to $2 billion for a metaverse-focused fund, but scaled back its ambitions to around $1 billion after the collapse of FTX.

Siu is confident that the company's accounts will be available in March and reports that there is already a large transaction flow, with "three or four transactions a week" going through the central funding.

Siu said the current market is a good time to invest in the Web3 ecosystem because valuations are lower and builders are better.

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