Animoca Brands' Yat Siu told an audience at Korea Blockchain Week 2022 that digital property rights will 'free' content creators from the powerful Web2 companies that “control our data.'
Yat Siu, co-founder of Hong Kong-based venture firm Animoca Brands has argued that on-chain digital property rights are the main aspects of blockchain technology that will drive a more decentralized society.
“The most powerful companies in the world today are not energy companies or resource companies, they’re tech companies and they're not powerful because they make software. They're powerful because they control our data.” “The powerful [thing about] Web3 is the fact that we can take ownership and we can make a big change with this because we have distributed and decentralized ownership for these assets.”
“Places that have almost no property rights […] You can see [are in] the bottom 20% [of GDPI] But the countries that have very strong property rights, South Korea, USA, Japan, most of Europe, enjoy very, very high property rights," he explained, adding that digital property rights should be no different.Siu added that the Asian continent has by far the most room to grow when it comes to Web3, as well as capitalizing on digital property rights.