between East and West, emerging areas such as the Middle East and Asia are offering budding crypto-startups the best opportunities for growth. As highlighted by Animoca Brands CEO Yat Siu during an interview with Cointelegraph, innovations in Web3 technology have prised open many doors for these projects, leading to a flurry of investments and ground-breaking projects, many of which have direct applications in industry and enterprise use. To the North American market, however, the future still appears unclear. This is due to a rise in global interest rates combined with declining pricing curve associated with crypto assets.
Despite the tumultuous global economic, and regulatory conditions in North America, crypto investments and advancements are marching onwards in the Middle East and Asia according to Animoca Brands top-man Yat Siu. “Valuations have come down, obviously, but the number of builders entering the space, the number of smart contracts being deployed, and the number of people involved is still on the increase,” Siu stated, highlighting how a dip in prices has done nothing but strengthen the innovative spirit within these communities and asserting that he at Animoca Brands remain optimistic and bullish about the prospects of what’s to come.
Since the fateful collapse of FTX in November 2022, market wide regulatory pressures have been formed by governments intent on managing the disruptive forces of emerging technology – some approaches friendlier than others. The US has responded through a process of enforcement – measuring both shifts & forces in the regulatory landscape, while Asian countries have recognised the opportunities presented and now look to market wide licensing systems.
In contrast, EU regulations have become a double-edged sword; with attempts to rectify these inconsistencies by introducing regulations open to enforcement, whilst simultaneously folding in legalistic terms pro-seeking projects’ best interests.
Yat Siu proposed that the ‘Builders Narrative’ was equally adopted as an action of sustained, long-term national sovereign interest for nations to evolve past the protocol’s surface-level applications. Rather, the vision of unfettered innovation should follow – “an idea powerful enough to justify human volatility”.
One such example of this is Sydney which stands today as a symbolic universal bridge between East & West. From soaring harbour-sides to emerging hubs at Sydney Olympic Fish Markets – Crypto City allows projects to flourish taking participants ‘beyond the token’.