Animoca Brands founder Yat Siu intends to position his company as a gateway for investors to access broader crypto projects and the altcoin market, with plans for a public listing through a reverse merger next year.
"We believe that altcoins, ultimately, over the largest space, are going to outperform Bitcoin as a collective," Siu stated during an interview with Cointelegraph on Wednesday.
Siu drew a parallel between Bitcoin (BTC) and gold, suggesting that while no single company surpasses gold's market capitalization, the combined value of all public companies is approximately five to six times that of gold. He noted that while these companies might not possess the same longevity as gold, their collective value can fluctuate significantly.
"We don’t join crypto because we want to hold Bitcoin, only holding Bitcoin as a reserve asset, but I don’t use it, right?" he remarked, highlighting the diverse utility of altcoins across various sectors, including Web3 gaming, gas fees, decentralized finance (DeFi), and decentralized physical infrastructure networks (DePIN).
Animoca Seeks to Provide Crypto Equivalents to Early Internet Giants
"All of these applications are actually altcoins, right in the classical definition, even, you know, to a lesser extent, but perhaps even more meaningfully, before, memecoins are also altcoins," he explained.
Siu likened Animoca’s investment strategy to the opportunities available in the early 2000s, when investors could gain exposure to a wide array of prominent internet companies like Amazon, Google, eBay, and Alibaba.
"We feel that we’re pretty well positioned for that," Siu commented, adding that the crypto industry is unlikely to feature a single dominant altcoin or project, unlike the early internet landscape.
Animoca Brands Aims to Capture Emerging Crypto Leaders
He expressed confidence that Animoca’s extensive investment portfolio will enable it to identify and capitalize on emerging successful altcoins.
The majority of Animoca Brands’ investment portfolio is concentrated in gaming-related ventures, encompassing 230 out of the 628 companies it has invested in. The company is also increasing its investments in infrastructure, artificial intelligence, and decentralized finance (DeFi).
Siu emphasized that Animoca can invest in and gain access to altcoins at significantly lower entry points compared to external investors, and this advantage is being extended to its shareholders.
This announcement follows recent reports indicating that Animoca Brands is preparing for a Nasdaq listing next year through a reverse merger with Currenc Group, a public fintech company specializing in artificial intelligence.