PriyankaYat Siu, the Co-founder and Chairman of Animoca Brands, provides a profound look into the rapidly evolving Web3 landscape. Drawing from his extensive experience in technological innovation and his multicultural background, Siu offers invaluable insights into the future of blockchain technology and its global dynamics.
In a recent interview with BeInCrypto, Siu discussed the contrasting attitudes towards blockchain between Eastern and Western cultures. He also provided crucial advice for artists navigating the burgeoning AI era. As a global leader in blockchain and gaming, Siu shared his vision for the future through the Mocaverse project, which aims to address digital identity issues on Web3. His insights delve deeply into China’s strategic approach to blockchain and Hong Kong’s emerging role as a crypto-friendly sandbox.
**Q: Why do you think the price of MOCA has increased compared to other gaming tokens?**
Siu explained that while many tokens have struggled, others like Bitcoin, Ethereum, Solana, and TON have thrived due to strong institutional support. He argues that the success of MOCA can be attributed to similar support. The arrival of the institutional era in crypto began with the Bitcoin ETF, making institutional backing crucial for standing out in the market.
**Q. How does institutional support help your project grow?**
Traditional stock markets are predominantly institutional, whereas token markets are largely retail-driven. Institutions conduct thorough research due to their significant purchasing power and long-term strategies. Retail investors, on the other hand, tend to have a short-term focus. For instance, Pump.fun released 2 million tokens in six months, a strategy that, while innovative, also raises concerns about speculation. Institutions avoid such speculative projects, favoring those with disciplined approaches. In today’s environment, projects with institutional support are increasingly vital for sustainable growth.
**Q: As an advisor to the Hong Kong government Web3 Task Force, how do you interpret the recent industrial climate in China and Hong Kong?**
Despite President Xi Jinping’s endorsement of blockchain technology, it’s unrealistic to expect China to allow Bitcoin trading simply because it supports blockchain. Even US dollars face restrictions in China. However, Hong Kong serves as a financial gateway for international capital flowing in and out of mainland China. Hong Kong’s role as a Web3 and crypto-friendly hub makes sense—it acts as a sandbox where innovations can be tested without impacting mainland China directly. Additionally, Chinese capital prefers Hong Kong over other free markets like Singapore due to its unique position under Chinese influence.
**Q: How do Web3 and GameFi differ between the East and the West, given your Chinese background and upbringing in Austria?**
Asia tends to be more capitalist-friendly compared to the West, which is often divided between capitalism and socialism, particularly in Europe. Even China, despite its communist label, operates capitalistically. This contrasts sharply with Europe and many young Americans who are skeptical of capitalism. In Asia, making money through gaming assets is widely accepted, whereas in Europe and among younger Americans, there’s resistance to this idea. This cultural difference explains why DeFi and gaming are flourishing in Asia but face pushback in the West.
**Q: Which would you choose, Nintendo’s Game Boy or Black Myth: The Game Science of Wukong?**
While Siu admires Black Myth: Wukong’s potential as a global hit from China, he would choose the Game Boy. He acknowledges that Wukong’s success is partly due to the groundwork laid by Japanese animation and K-pop culture, which paved the way for Chinese cultural exports. Despite this, the Game Boy deserves respect for its historical significance in the gaming world.
**Q: What advice would you give to artists looking to enter the AI era, given your background in music studied in Vienna?**
Siu emphasizes the importance of owning one’s assets for anyone pursuing creative work. Successful musicians like Michael Jackson built their wealth by owning their intellectual property. Understanding money and business is crucial, as it’s not typically taught in schools. Independence comes from controlling your assets, whether you create ideas, music, or performances. Owning enough assets ensures long-term profitability from your work.
**Q: How can blockchain benefit content creators?**
Web2 platforms like YouTube, Instagram, and TikTok have been criticized for appropriating creators’ intellectual property without fair compensation. On YouTube, mukbang creators lost their IP rights despite their popularity. Similarly, Instagram users invest time in perfecting their photos without receiving payment or IP rights. Viral TikTok videos also don’t financially benefit their creators. In contrast, Web3 with blockchain allows creators to own their content by issuing it as NFTs. This ensures traceability and ownership protection, mitigating theft and ensuring creators can claim their work.
**Q: What are the key factors that the industry has noticed recently?**
The cryptocurrency industry has seen significant growth over the past year with numerous launches and increased participation. Siu is particularly excited about projects like TON and Mokabus. The TON ecosystem is expected to bring a substantial number of users to Web3. Animoca Brands’ game platform Gamee now boasts 90 million users. Mokabus aims to address digital identity issues by decentralizing identity verification to individuals rather than bots.
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