Animoca Brands co-founder and chairman Yat Siu stated that his firm will continue to “shepherd companies into Web3” to speed up the evolution of the internet into an open metaverse.

Siu has long advocated for the broader concept of an open metaverse, as opposed to a closed one that is dominated by large centralized Web2 companies. Central to Siu’s argument is that decentralized Web3 platforms and technology such as nonfungible tokens (NFTs) offer users a chance to maintain ownership rights over their data and content online instead of being controlled and utilized by firms such as Meta, formerly Facebook.

Siu made his latest comments while speaking on day three of the Australian Blockchain Week event earlier today. During his discussion hosted by Caroline Bowler, CEO of local crypto exchange BTC Markets, the NFT proponent covered several topics including the true value of Yuga Lab’s BAYC NFTs, the limitations of Web2 and Animoca’s ever-growing portfolio of companies and investments.

When questioned on Animoca Brands’ roadmap moving forward, Siu said that the firm is still “super early” in its long-term goal of building an open metaverse. He emphasized the importance of speeding up the process due to the risk of having large centralized firms dominating the virtual sphere:

“You will continue seeing us take that approach as we sort of, you…

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