Yat Siu, Co-Founder and CEO of Animoca Brands, shared his thoughts on what he thinks the metaverse is morphing into in the near future.

speaking in the Blockchain Future Summitthe veteran industry leader noted that the metaverse is not a core entity and is meant to spur the advent of new economies that will benefit its adopters.

In explaining his position on the much talked about market, Siu said that industries cannot be quantities based on a single metric, and that the collective performance of key ecosystem branches often come together to form a whole.

“Metaverse for us is an entire economy. We don’t want to measure the future of these companies using NLP, we want to measure it in terms of GDP. Just like we cannot define the value of Ethereum by how much gas generates but rather its usefulness as a whole, in the same way, the metaverse is an image that achieves everything. So thematically, it’s a metaverse; but in practice, the digital property of itu2019″.

Siu criticizes the usurping role that big tech companies like Google and Facebook have played in the evolution of the gaming industry so far. According to him, most of the $200 billion-plus industry is controlled by big tech, with little for game developers and next to nothing for gamers.

Based on the Web3.0 model, Siu believes this anomaly will correct itself, creating an economy where everyone is fairly compensated for their participation in the ecosystem.

“More than half of the value generated in the gaming industry goes to Apple, Facebook and Google. How much of that goes back to the gaming industry? Zero. This is the problem today, and it makes the ecosystem unhealthy.”

Yat Siu, whose company owns The Sandbox metaverse and has invested in hundreds of game protocols believe GameFi it is one of the disputed pathways by which users will join the Web3.0 industry.

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