Gamedev studio Animoca Brands is going to renew the industry in Web-3

The company is building a portfolio of 340 companies. After all, $2 trillion has been lost since November, causing many investors to go into hibernation - Yat Siu, head of Animoca Brands Corp.

Animoca, Asia's largest investor in blockchain projects, is assembling an extensive portfolio of financial, gaming and social media companies, totalling more than 340 potential robbery investors.

The goal, Siu says, is to give people ownership of their virtual property and to disrupt the empires of Meta Platforms Inc. and Microsoft Corp., which he calls "digital dictatorships" (it's possible he just wants to have his own :D).

"If people say it's crypto-winter, then 2018 was a crypto-glacial period," says Siu. "Now is the time to invest more capital, not less."

Investments from Animoca, like those from venture capital firm Andreessen Horowitz or Sam Bankman-Fried's FTX in the US, are seen as a seal of legitimacy for crypto start-ups in Asia, and their absence is a sign of concern. 

Now that Animoca is one of the few organisations left to invest, Sioux's chequebook has become an even more powerful weapon - and could backfire profoundly if this downturn is anything like 2018.