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There’s this famous saying from Warren Buffett: Be fearful when others are greedy, and be greedy only when others are fearful.
It refers to a way of viewing opportunities in investments – when prices are inflated due to greed, don’t buy in. On the other hand, there’s a lot of opportunity to be had when people are selling off their investments due to fear.
If we applied this to the Web3 industry, many of us would say that people have been fearful for the last few years, given the high-profile scandals. However, Yat Siu, co-founder and executive chairman of Web3 gaming firm Animoca Brands, has remained steadfast in his belief in the sector – and it seems to be paying off.
Today we look at:
- Animoca Brands staying strong in Web3
- ByteDance putting the pressure on TikTok Shop in the US
- Other newsy highlights such as Amazon expanding its grocery delivery service in India and JungleWorks acquiring a majority stake in Outplay
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The Web3 game
Image credit: Timmy Loen
It takes a lot of guts to stay so heavily involved in Web3 even after all the setbacks, so kudos to Yat Siu and his company. Let’s take a look at how it’s been faring.
- Bounce back: Animoca Brands’ bookings have been on the rise in the last few years. It did experience a drop in 2023 following the FTX incident, but a year later, it rebounded by over 12%.
- Many eggs, many baskets: According to Siu, one of the keys to Animoca’s success has been its diversification across multiple Web3-related revenue streams.
- Everything’s changed: For a long time, western game developers weren’t interested in Web3 because of US regulators. But that attitude could change very soon because of the Trump administration and its support for crypto.
Read more: Animoca’s Yat Siu doubles down on Web3 while others pull back
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The pressure’s on
Ignite your potential at AMPED Malaysia on June 11
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