Yat Siu "Animoca bets on altcoin strength... pursuing Nasdaq reverse merger next year"

Animoca Brands has unveiled a blueprint to pursue a Nasdaq reverse merger (reverse merger) next year, aiming to become a platform that captures the overall growth potential of the altcoin market for investors rather than Bitcoin.

According to a report by Cointelegraph on the 27th (local time), Yat Siu, founder of Animoca Brands, said in an interview that altcoins are likely to deliver collective excess returns relative to Bitcoin in the long term, and that he would enable indirect investment in various Web3, game, and DeFi projects through Animoca.

Yat Siu compared Bitcoin to gold and assessed that altcoins will become a structure with multiple winners like Amazon, Google, eBay, and Alibaba in the early internet industry. He said he holds Bitcoin as a store of value, but in terms of actual utility, altcoins with real-use bases—such as Web3 games, gas fees, DeFi, and DePIN—perform a much broader industrial role.

Of Animoca Brands' current 628 investments, 230 are game- and entertainment-based projects, and the share of investments related to infrastructure, artificial intelligence (AI), and DeFi is also rapidly expanding. Yat Siu explained that Animoca is designing a revenue model that leverages a structure allowing it to secure altcoins at low prices in early stages and pass that advantage on to shareholders after listing.

This strategy is based on the judgment that the cryptocurrency industry has entered a phase of multi-ecosystem expansion rather than single-asset dominance. He predicted that altcoins will create multiple winners like early internet companies and emphasized that Animoca Brands can absorb some of them into its portfolio.

Recently, industry analysis has suggested that Animoca Brands plans to enter Nasdaq next year through a reverse merger with AI-based fintech listed company Currency Group. Since it is putting an altcoin-centered financial strategy front and center, market interest is expected to be highly focused during the listing process.