Animoca Brands founder: Metaverse Standards Forum as a “paper tiger”

06/24 05:39

According to Decrypt, Yat Siu, founder and executive chairman of Animoca Brands, dismissed the Metaverse Standards Forum as a “paper tiger”. Chief among Siu’s critiques of the pact is the unlikelihood that any of its participating corporations would ever actually adopt a permissionless structure, in which asset ownership is not “gatekept” by a company, and all data lives publicly, on a blockchain. “This is a very difficult thing for these companies to do,” said Siu. “ Web2 companies rely on their exclusive access to data.” Siu believes that the business model of companies like Meta is fundamentally incompatible with the notion of a decentralized, open metaverse, in which users, their data, and their digital belongings exist independently of any company.

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