FameEX Hot Topics | Yat Siu Asserts Excitement for Blockchain Gaming Fueled by Prospect of Spot Bitcoin ETF

Yat Siu, at the helm of Animoca Brands, has drawn a connection between the burgeoning excitement for a spot Bitcoin ETF and a boost in the GameFi industry’s morale and dynamics. In his view, the significance of blockchain game tokens transcends simple financial value; they also imbue players with a sense of assurance and investment in their virtual assets.

Siu underlines that only when industries or economies showcase tangible growth can they solidify and maintain the confidence of investors. Stagnancy, even with high asset prices, can erode trust. Thus, he contends that the true measure of investor sentiment in GameFi ventures beyond token valuation and encompasses a holistic view of on-chain activities—a mirror to evaluating a nation's financial health. He argues for a holistic assessment of GameFi success, looking beyond token prices to a broader economic activity and user engagement. Recent figures validate Siu's assertions, as evidenced by a significant rise in blockchain gaming engagement, specifically a notable increase in transactional and trading activities for Animoca’s prominent title, Axie Infinity, as recorded by DappRadar.

Despite the growing diversity in the crypto space, Siu believes that Bitcoin’s performance remains a critical determinant of the sector's health, likening Bitcoin's role to that of a reserve currency in the Web3 ecosystem. The way Bitcoin is managed and possessed significantly impacts the valuation of various cryptocurrencies.