Animoca Brands Co-founder Joins Hong Kong Task Force for Web3 Development

Yat Siu, the CEO, and Co-founder of Animoca Brands, a leading blockchain gaming company, has been appointed as a member of Hong Kong's Web3 Task Force. This task force, consisting of 14 non-official members, aims to accelerate blockchain innovation and foster the growth of the web3 ecosystem in the Asian financial hub. 

The appointment of Yat Siu reflects the recognition of the importance of web3 technology in Hong Kong's future development. The "Pearl of the Orient" is strategically establishing itself as a hub for blockchain and web3 technologies.

Web3 Development in Hong Kong

Hong Kong, known for its robust financial services sector, revealed its push for a thriving web3 ecosystem in the region when the Financial Secretary of Hong Kong unveiled its 2023-2024 budget.

This meant the establishment of a specialized Web3 Task Force tasked with promoting sustainable and responsible web3 growth in Hong Kong. The task force will provide valuable recommendations and guidance to the government, shaping the regulatory framework, ecosystem development, industry expansion, and talent cultivation.

Yat Siu, an industry veteran and visionary leader in the field of blockchain gaming, expressed his honor and enthusiasm upon being appointed to the Task Force.

“I believe that the work of the task force will help to shape not only Hong Kong but also globally in the adoption of blockchain technologies, particularly in the areas of regulation, ecosystem building, industry development, and talent development,” The Animoca Brands Co-founder included in his statement.

In recent years, Hong Kong has strategically positioned itself as a global hub for web3 and blockchain innovation. The city has attracted blockchain businesses and is promising to bring more growth as the years go by.

Animoca Brands in Web3 Gaming

Animoca Brands is a leader in the field of blockchain gaming.  The Hong Kong-based company is both a developer of web3 games and an investor of blockchain-based gaming companies.

Animoca Brands developed games such as REVV Racing, The Sandbox, and Crazy Defense Heroes, which have made waves in the industry, establishing themselves as a fun and formidable game in the industry. Furthermore, Animoca Brands is a strong advocate for the open metaverse. 

The company believes that the open metaverse will be a decentralized and user-owned platform, and it is working to help make this vision a reality.

The appointment of Yat Siu to Hong Kong's Web3 Task Force is a significant milestone for both Animoca Brands and the web3 gaming industry. The future looks promising for web3 in Hong Kong as it continues to pave the way for a decentralized and interconnected digital landscape.