Odaily Planet Daily News: Animoca Brands co-founder Yat Siu said in an interview that NFTs are currently "competing with Meme coins for attention", but their "non-fungible" nature will have lasting relevance. Siu explained that although Meme coins are fungible, they have assumed part of the role that NFTs play in expressing the culture of many celebrities, influencers, and users. Siu added that the focus will be on Web3 in the future as a means of building a good reputation. He said: "One of the problems we have in Web3 at the moment is that too many people only consider economic capital, and they have not fully regarded their Web3 image as a reputation." According to Cryptoslam data, the total NFT transaction volume was US$3.24 billion in the week ending August 22, 2021, while the market transaction volume last week was approximately US$80 million. (The Block)

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