Yat Siu of Animoca Brands expects strategic investments and partnerships to bear fruit in 2024 amid growing interest in Bitcoin.
Yat Siu, one of the co-founders of Animoca Brands, believes that 2024 will be a profitable year for the company. He attributes this success to the strategic investments and collaborations the company will pursue. The growing interest in Bitcoin from mainstream institutions is consistent with this optimistic outlook.
Animoca Brands has made over 70 investments in 2023, and Yat Siu expects these expenditures to yield good results in the coming years. The company is positioned to take advantage of a variety of development possibilities. blockchain The same goes for the cryptocurrency industry thanks to its aggressive investment approach.
Among the many notable partnerships, one that stands out is the one with the blockchain known as The Open Network (TON), which was unveiled on November 28th. As part of the validator contract, this collaboration required the purchase of a certain amount of Toncoin. The subsequent staking of that amount was not disclosed. Siu believes the deal is a big step toward widespread onboarding and acceptance of GameFi, especially considering the fact that Telegram currently has 800 million registered users.
Animoca’s acquisition of social casual gaming platform Gamee in July 2020 was another significant move by the digital entertainment company. The integration with Telegram, which will enable Gamee to monetize its games, is expected to improve Gamee’s business viability. This connection makes it easier to display ads and make in-app payments on Telegram using the latest integration implemented by TON.
The resurgence of the NFT market, driven by long-term holders who appreciate the underlying principles and projects beneath the surface, was another topic Siu discussed. This rebound indicates that neither the Metaverse project nor NFTs (Non-Fungible Tokens) will face difficulties in the future.
Siu’s optimistic forecast for 2024 is supported by several macro variables that Siu cited as reasons for influencing positive sentiment. Among them are rising expectations for a Bitcoin spot exchange-traded fund (ETF) in the U.S., the conclusion of legal concerns such as the Sam Bankman-Fried criminal trial, and major transactions signed by Binance with U.S. authorities. There is. As a result of these changes, Siu believes the Bitcoin industry will be in a much more stable and transparent environment by 2024.
Image source: Shutterstock
