Animoca Brands, once a small video game studio, is building a portfolio of more than 340 finance, gaming, and social media companies.
The so-called crypto winter has wiped out $2 trillion in digital currency market value since November, and many investors have gone into hibernation. Yat Siu, the head of Hong Kong-based Animoca Brands Corp., is on the offensive.
Animoca, Asia’s biggest investor in blockchain projects, is assembling a vast portfolio of finance, gaming, and social media companies, more than 340 in all. The goal, says Siu, is to give people ownership over their virtual properties and break up the empires of Meta Platforms Inc. and Microsoft Corp., which he describes as “digital dictatorships.”
Siu’s strategy was informed by the digital currency crash of 2018, when he turned his small video game studio into a crypto investor. The startup purchased a stake in the maker of CryptoKitties, a Pokémon-like game with virtual cats that can be bought and sold with digital money,...
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