- The Chairman of Animoca Brands, Yat Siu, makes use of OpenSea, the biggest NFT marketplace, to describe the motives of positive competition.
- He utilizes the NFT marketplace in order to look out for the creative options available on Web3.
- Yat Siu discussed the importance of digital identity with the several advantages supported by Web3 and offline.
PAWA, a conference for ancient and future technologies, mentioned on its official Twitter handle that Yat Siu, the Chairman of Animoca Brands, uses the biggest NFT marketplace OpenSea to describe the motives of positive competition and the creative options available on Web3.
Yat Siu @ysiu uses #NFT marketplace, OpenSea, to describe the motives of positive “competition” and the creative options available on WEB3.@animocabrands@opensea#PAWA #pawaparis #pawaparis2022 #stationf #ancientwisdom #technology #web3 pic.twitter.com/jb5PHptOyv— PAWA (@PawaLife) September 22, 2022
Yat Siu, who is generally excited to talk about digital property rights, released a statement that said if Web1 is read, Web 2 is read, write, then Web3 is read, write, and own.
Being a speaker at the PAWA, Yat Siu discussed the importance of digital identity with the several advantages that Web3 and offline support.
In the Web3 model, due to the ownership of the data, the serenity will belong to the user, unlike Web1 or Web2, where the users were shut off. Being a customer, the user will possess the power to decide which marketplace is better, OpenSea or Luxor.
This clearly implies that the job of OpenSea is not to make the mode harder for the user to leave but will strive to make it better for you as a customer so that you would stay with it. This marks the philosophical difference between the competition where true competition evolves.
In the digital world, earlier, the users were not allowed to make a choice, but now they will have the power thanks to Non-fungible tokens, which provides the users with the freedom that never existed in the previous versions of the Web.
Yat Siu’s Anoimoca Brands is aimed at delivering digital property rights to gamers and internet users in the world by facilitating the creation of a new asset class. They are striving to build Play and Earn economies in the metaverse.