Animoca Targets Non-Crypto Gamers by Developing Big Brand Games
The CEO of Animoca Brands, Yat Siu discussed his firmâ€™s strategy of bringing the benefits of blockchain technology to non-crypto-native games with loyal audiences.
Blockchain gaming powerhouse, Animoca Brands, believes that acquiring mainstream games with loyal players and exposing them to the benefits of blockchain and distributed ledger technology (DLT) is the best way to attract new audiences into crypto.
Cointelegraph spoke to Yat Siu, the chief executive of Animoca Brands, to learn about his firmâ€™s strategy for bridging the gap between the mainstream gaming and crypto worlds.
Animoca Brands has quickly emerged as a leading firm within the crypto gaming sector, securing a global licensing agreement with Formula 1 ahead of its F1 Delta Time release, and announcing a $3 million initial exchange offering (IEO) for its title The Sandbox on Binanceâ€™s launchpad last week.
Siu described The Sandbox as a prime example of how strategic acquisitions have allowed Animoca to capture non-crypto-native audiences and expose them to blockchain technologies.
â€œWhen we do acquisitions, we’re not buying companies that are necessarily blockchain-related,â€� Siu said. â€œWhen we acquired the company Excel, it was a traditional mobile game developer that had the Sandbox game that wasn’t yet fully on blockchain, although they had the vision to go there,â€� he continued.
â€œWe’re not just acquiring a talented team that could make stuff on blockchain, but we are also acquiring customers that already play the game â€” and these are gamers that we can transfer over.â€œ
A stake in a gameâ€™s success
Siu emphasized that Animocaâ€™s seeks to acquire games that â€œalready have a captive audience that is already generating revenue [and] already loving the product as it is.â€�
â€œBy giving it the benefits of blockchain technology, those gamers will get an additional benefit that we think is very powerful,â€� he added.
Siu described blockchain as driving a disruption to the gaming industry akin to the emergence of online gaming, but with very different concepts around â€œownership and value.â€�
â€œOwnership allows [gamers] to actually have a stake in the success of the game.â€�
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