Yat Siu, the co-founder and chairman of NFT game developer Animoca Brands, believes nonfungible tokens offer a new way for culture to be stored in the virtual sphere.
In an interview with Cointelegraph, Siu argued that while the technology underpinning NFTs may be new, the desire to “store culture” has long been with us throughout human history.
“We describe NFTs as stores of culture, because they embody a moment in history,” he said, adding: “What is art? Art stores culture.”
Siu is a Hong Kong-based tech entrepreneur who previously worked at Atari and also founded the Outblaze gaming company. Animoca Brands was founded in 2014 and has released notable NFT projects including The Sandbox, F1 Delta Time and MotoGP Ignition, and it invested in Dapper Labs, OpenSea