No Metaverse Without Web3, Says Animoca Brands CEO


  • Animoca Brands CEO Robby Yung took a shot at Meta’s focus on Virtual Reality.
  • CEO Robby Yung states that there’s no Metaverse without Web3.
  • Animoca Brands is a key founding member of the Open Metaverse space.

Animoca Brands CEO Robby Yung expressed his insightful view of the Metaverse industry. He stated that without Web3, there is no such thing as a Metaverse, as he took a shot at Meta’s focus on virtual reality, declaring VR only to be a big mistake and an unwanted distraction.  

Metaverse can be many things to many people. It can even mean many things to many people, doesn’t matter whether it’s Meta’s virtual reality office, Fortnite’s social space, or Decentraland’s virtual world. 

At Web Summit in Lisbon, Portugal, CEO Robby Yung stated that he truly believes that there’s no metaverse without Web3. He says that you need the transaction layer to maintain interoperability between content and you. He further added that his industry is working on setting standards for that to address those issues and make them happen efficiently. 

Animoca Brands is a core founding member of the Open Metaverse space, which is trying to push for interoperability standards, to enable NFT purchased on one metaverse to integrate with another. This means that the NFT bought in The Sandbox could be used for Decentraland.

Bored Ape Yacht Club owners Yuga Labs is yet to be a core part of the Open Metaverse Alliance. They’re one of the key players in the Web3 space, and their commitment to this major alliance is integral to the overall progress of the Metaverse.