Welcome DT News

  • CONTACT
  • ABOUT US
Deythere
  • Home
  • News
    image 440
    CryptoNewsSponsored Article

    Flip Whitelist Access Into Free Money: MoonBull Drops a $15K Giveaway Ahead of the Presale, While Pepe and Mog Coin Rally

    Ever wondered if missing early entries like Shiba Inu or Pepe were…

    By
    Benedikt Krüger
    September 17, 2025
    PayPal Expands P2P Payments to Bitcoin, Ethereum, and PYUSD
    NewsCryptoMarket
    PayPal Expands P2P Payments to Bitcoin, Ethereum, and PYUSD
    September 17, 2025
    Binance in Talks With DOJ to Drop $4.3B Settlement Compliance Monitor
    CryptoBinanceMarketNews
    Binance in Talks With DOJ to Drop $4.3B Settlement Compliance Monitor
    September 17, 2025
    Bitwise Stablecoin Tokenization ETF
    NewsCryptoMarket
    Bitwise Stablecoin Tokenization ETF Filing Signals New Era for Digital Assets
    September 17, 2025
    Coinbase and Ethereum Foundation Help Power Google’s AI Payment Breakthrough
    CryptoCoinbaseEthereumNews
    Coinbase and Ethereum Foundation Help Power Google’s AI Payment Breakthrough
    September 17, 2025
  • Cryptocurrency
    image 440
    Flip Whitelist Access Into Free Money: MoonBull Drops a $15K Giveaway Ahead of the Presale, While Pepe and Mog Coin Rally
    10 Min Read
    PayPal Expands P2P Payments to Bitcoin, Ethereum, and PYUSD
    PayPal Expands P2P Payments to Bitcoin, Ethereum, and PYUSD
    7 Min Read
    Binance in Talks With DOJ to Drop $4.3B Settlement Compliance Monitor
    Binance in Talks With DOJ to Drop $4.3B Settlement Compliance Monitor
    8 Min Read
    Bitwise Stablecoin Tokenization ETF
    Bitwise Stablecoin Tokenization ETF Filing Signals New Era for Digital Assets
    6 Min Read
    Coinbase and Ethereum Foundation Help Power Google’s AI Payment Breakthrough
    Coinbase and Ethereum Foundation Help Power Google’s AI Payment Breakthrough
    8 Min Read
    Defiance ETF Filings Target Yield With Bitcoin and Ethereum Basis Trades
    Defiance ETF Filings Target Yield With Bitcoin and Ethereum Basis Trades
    6 Min Read
    Previous Next
  • Pages
    • Contact Us
    • Customize Interests
    • My Bookmarks
Reading: NFTs vs Meme Coins: Yat Siu on the Future of Web3 and the Upcoming U.S. Election
Share

[ccpw id=”7831″]

DeythereDeythere
Font ResizerAa
  • Home
  • Crypto
  • Market
  • News
  • Blockchain
  • Contact
Search
  • Home
  • News
  • Cryptocurrency
  • Pages
    • Contact Us
    • Customize Interests
    • My Bookmarks
Have an existing account? Sign In
Follow US
© DT News. All Rights Reserved.
Deythere > News > News > NFTs vs Meme Coins: Yat Siu on the Future of Web3 and the Upcoming U.S. Election
News

NFTs vs Meme Coins: Yat Siu on the Future of Web3 and the Upcoming U.S. Election

NFTs vs Meme Coins: Yat Siu on the Future of Web3 and the Upcoming U.S. Election
NFTs vs Meme Coins: Yat Siu on the Future of Web3 and the Upcoming U.S. Election
Emiliano Trejo
Last updated: August 14, 2024 11:22 am
By
Emiliano Trejo
Published August 14, 2024
6 Min Read
Share

For Yat Siu, the chairman of Animoca Brands, the shifting trends in the cryptocurrency market are nothing new, but the current landscape presents a unique challenge. Siu, a long-time advocate of non-fungible tokens (NFTs), has recently observed a growing competition between NFTs and meme coins. Siu’s insights shed light on what this means for the future of Web3 and how the upcoming U.S. presidential election might shape the crypto industry.

Contents
  • The Battle Between NFTs and Meme Coins
  • Web3 and the Future of Reputation
  • The U.S. Election: A Fork in the Road for Crypto
  • Animoca’s Potential IPO: A Look Ahead
  • Conclusion: The Road Ahead for Web3

The Battle Between NFTs and Meme Coins

NFTs once offered unique ownership over digital assets ranging from artwork to virtual land. However, their dominance is now being challenged by the rise of meme coins. Siu acknowledges this shift, noting, “Right now, NFTs are fighting for attention with meme coins.”

NFTs vs Memecoins: Yat Siu on the Future of Web3 and the Upcoming U.S. Election
NFTs vs Meme Coins: Yat Siu on the Future of Web3 and the Upcoming U.S. Election

In a recent interview at the Foresight 2024 event in Hong Kong, Siu explained that while NFTs are non-fungible and inherently unique, meme coins—despite being fungible—have taken on a similar role in expressing personal identity and culture. Celebrities and influencers, who once flocked to NFTs to make a statement, are now turning to meme coins for the same purpose. This shift is not just a trend but a reflection of how digital culture evolves and redefines itself.

“Three years ago, I don’t know how many thousands of NFT projects launched every day, and now that’s seen in meme coins,” Siu remarked, highlighting the cycle that the market is experiencing. He believes that eventually, the focus will shift back to what NFTs can offer beyond financial gain. “What will become more important for your reputation, not for money? NFTs,” he added.

Web3 and the Future of Reputation

Siu’s belief in the enduring relevance of NFTs is closely tied to his vision for Web3’s future. In his view, as the internet evolves into this new phase, reputation will become a key component of digital identity. However, he points out that the current focus in Web3 is often skewed towards economic capital, with many individuals yet to fully embrace the idea of a Web3 persona that values reputation.

“One of the problems right now we have in Web3 is that too many people are only thinking about the economic capital, and they haven’t yet fully identified their Web3 persona as a reputation,” Siu observed. He envisions a future where the non-fungible nature of NFTs becomes central to building this reputation layer within the blockchain, offering a more meaningful way for individuals to define their digital selves.

As Web3 matures, Siu anticipates that the cultural, social, and symbolic capital will gain importance. 

The U.S. Election: A Fork in the Road for Crypto

As we move forward, another major event on the horizon could significantly influence the crypto world—the 2024 U.S. presidential election. Siu believes that the outcome of this election could set the course for cryptocurrency development in the world’s largest economy.

“Come November, the U.S. is going to aim to reclaim leadership in crypto,” Siu predicted. He outlined two possible scenarios: If Donald Trump wins, the U.S. may adopt an aggressive approach to advancing crypto, “guns blazing.” Conversely, if Kamala Harris is elected, the approach may be more cautious, though not necessarily negative towards the industry.

NFTs vs Memecoins: Yat Siu on the Future of Web3 and the Upcoming U.S. Election
NFTs vs Meme Coins: Yat Siu on the Future of Web3 and the Upcoming U.S. Election

Siu is optimistic that a return to a crypto-positive stance in the U.S. could reinvigorate venture capital activities, which have slowed since the FTX collapse. Increased capital flow could foster stronger interactions between Web3 industries in the U.S., Asia, and other regions. “In Web3, every token holder is an investor,” Siu said. “So imagine that all of America now is becoming more open to crypto… This basically opens up a whole new form of liquidity.”

Animoca’s Potential IPO: A Look Ahead

While the future of NFTs and the impact of the U.S. election remain topics of speculation, Animoca Brands is also making plans for its long-term growth. The company, which delisted from the Australian Securities Exchange in 2020, is now considering a return to the public market. Siu indicated that an initial public offering (IPO) might take place in Hong Kong or the Middle East by late 2025, though he believes 2026 is a more likely timeframe.

To prepare for this potential IPO, Animoca is planning a non-deal roadshow in September. This will allow investors to gain insights into the company’s initiatives without the pressure of buying securities. With a reported cash and stablecoin balance of $291 million and investments in approximately 540 Web3 projects, Animoca is positioning itself for a promising future.

Conclusion: The Road Ahead for Web3

Yat Siu’s perspectives offer valuable insights into the current and future state of the crypto landscape. While NFTs and meme coins may be competing for attention today, Siu is confident that the unique qualities of NFTs will play a critical role in the ongoing development of Web3. The upcoming U.S. election adds another layer of complexity, with the potential to reshape the crypto industry’s trajectory.

Advertising

For advertising inquiries, please email . [email protected] or Telegram

Cardano 2025 and 2030 Price Targets: Analysts Share Bold Predictions

Elon Musk Proposes Collaboration with Donald Trump to Enhance Government Efficiency

Bitcoin and Altcoins Under Pressure! QCP Capital Still Expects an “Uptober” Rally!

Aptos (APT) Price Prediction 2025, 2027, and 2030: Will APT Break New Highs? 

Why Validators Forced Ethena Labs to Step Aside in the Hyperliquid USDH Contest

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.
By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
Share This Article
Facebook Email Copy Link Print
ByEmiliano Trejo
Emiliano Trejo has spent the last 9 years immersed in the world of blockchain and cryptocurrencies, becoming a prominent figure in the industry. With a background in economics and a keen interest in decentralized systems, Emiliano has contributed to several groundbreaking projects, including the development of blockchain-based financial products and services. His expertise lies in the intersection of blockchain technology and economic models, where he excels in creating innovative solutions that leverage the benefits of decentralization. At DT NEWS, Emiliano shares his deep knowledge of the global cryptocurrency market, offering insights that help readers understand both the technical and economic implications of blockchain innovations.
Previous Article Solana Price Plummets 12.68% Below $150 as Bearish Traders Mount $195M Short Positions Solana Price Plummets 12.68% Below $150 as Bearish Traders Mount $195M Short Positions
Next Article Crypto ETF Holdings by DRW Reach $200M, Led by ETHE Crypto ETF Holdings by DRW Reach $200M, Led by ETHE
Leave a Comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Subscribe to our newslettern

Get Newest Articles Instantly!

Popular News
crypto 2024
Crypto Derivatives Market Heats Up as Innovative Products Emerge
crypto approval
Blockchain Revolutionizes Energy Markets with Decentralized Trading Platforms
crypto news
Cutting-Edge Mining Technologies Drive Efficiency in Cryptocurrency Production
crypto 2024 1200x720
Decentralized Identity Emerges as a Catalyst for Data Privacy Renaissance
space
Tech Giant Announces Breakthrough in Quantum Computing
worldwide protest
Worldwide Protests Demand Action on Climate Change
global
Global Economic Forecast Reveals Slow Recovery Post-Pandemic
solar power
Revolutionary Solar Power Technology Unveiled

Follow Us on Socials

We use social media to react to breaking news, update supporters and share information

Twitter Youtube Telegram Linkedin
Deythere

DT News influence 20 million users and is the number one business blockchain and crypto news network on the planet.

Subscribe to our newsletter

You can be the first to find out the latest news and tips about trading, markets...

Menu

  • Home
  • News
© DT News. All Rights Reserved.
Banner 1
Banner 2
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?

  • English