Yat Siu: Asia GameFi is a Huge Opportunity Because Gamers Don't Hate NFTs
The co-founder of Animoca Brands has suggested that Asian game companies don't have to face the same number of rejections against NFTs than US companies. face.
Interview
Animoca Brands co-founder Yat Siu thinks GameFi has the biggest growth opportunity in Asia, as gamers there don't have the same vitriol towards non-fungible tokens (NFTs) as in the West.
Sitting down with Cointelegraph during Asia Crypto Week, Siu argued that Asia generally has a more welcoming culture towards games and technological advancements such as NFTs, digital ownership and Play-to- Earn (P2E).
"I think Asia has the potential to become a real leader in blockchain gaming, at least in the short term. And there are several reasons why I think it is. Not only because, you know, there are the most gamers in that region of the world [...] but it's also because gamers in Asia welcome NFT.”
"Game companies in the West have to deal with consumer resistance, which game companies in Asia don't have to," he added.
The Animoca co-founder attributed this acceptance of NFTs to a broader Asian view of capitalism, which he says is viewed more favorably in the region – with the exception of China – than in the United States because people see it as a way out of poverty.
He cited examples such as South Korea, which “only four decades ago” had the same economic size as North Korea, but quickly climbed the global rankings through innovation,” creativity, legal frameworks and property rights" despite the lack of natural resources. resources.
“The consumer in Asia sees capitalism as a fight for the net good. In other words, okay, there is inequity. people] think "I can do it too, or I have an opportunity," he said.
Draw a con...
The co-founder of Animoca Brands has suggested that Asian game companies don't have to face the same number of rejections against NFTs than US companies. face.
Interview
Animoca Brands co-founder Yat Siu thinks GameFi has the biggest growth opportunity in Asia, as gamers there don't have the same vitriol towards non-fungible tokens (NFTs) as in the West.
Sitting down with Cointelegraph during Asia Crypto Week, Siu argued that Asia generally has a more welcoming culture towards games and technological advancements such as NFTs, digital ownership and Play-to- Earn (P2E).
"I think Asia has the potential to become a real leader in blockchain gaming, at least in the short term. And there are several reasons why I think it is. Not only because, you know, there are the most gamers in that region of the world [...] but it's also because gamers in Asia welcome NFT.”
"Game companies in the West have to deal with consumer resistance, which game companies in Asia don't have to," he added.
The Animoca co-founder attributed this acceptance of NFTs to a broader Asian view of capitalism, which he says is viewed more favorably in the region – with the exception of China – than in the United States because people see it as a way out of poverty.
He cited examples such as South Korea, which “only four decades ago” had the same economic size as North Korea, but quickly climbed the global rankings through innovation,” creativity, legal frameworks and property rights" despite the lack of natural resources. resources.
“The consumer in Asia sees capitalism as a fight for the net good. In other words, okay, there is inequity. people] think "I can do it too, or I have an opportunity," he said.
Draw a con...
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