According to TechFlow, Yat Siu, founder of Hong Kong Web3 venture capital firm Animoca Brands, said at the Foresight 2024 event in Hong Kong that NFT is currently competing with Meme coins for attention, but its non-homogeneity will have lasting value.
According to Cryptoslam data, NFT trading volume fell from a peak of $3.24 billion in the week of August 22, 2021 to approximately $80 million last week.
Siu believes that although Meme coins are homogenized, they have assumed the role of NFT in expressing culture to some extent. He predicts that Web3 will pay more attention to building reputation in the future, and NFT will play an important role in the blockchain reputation layer.
Talking about the impact of the US election, Siu said that whether Trump or Harris is elected, the United States will be committed to re-establishing its leadership in the crypto field. He expects that the positive attitude of the United States towards cryptocurrencies will revitalize venture capital activities and stimulate global Web3 industry interaction.
Regarding Animoca Brands' potential IPO, Siu revealed that the company is considering listing in Hong Kong or the Middle East in late 2025 or early 2026, with a higher probability of achieving this in 2026. The company has not yet selected advisors for the potential IPO, and plans to conduct a non-deal roadshow in September as preparation.
Earlier news said Animoca Brands was considering listing in Hong Kong or the Middle East as early as next year.
