Ideas
Licensed bank stablecoin should boost confidence.
The Animoca, Standard Chartered, and Hong Kong Telecom joint venture is designed as the first central-bank-licensed stablecoin, issued by Standard Chartered and licensed by the HKMA. Yat Siu argues this bank and government backing gives consumer confidence beyond existing private stablecoin issuers and should accelerate Web3 adoption.
Tokenization lets users own network effects.
Yat Siu argues the most valuable asset is network effects, and tokenization lets users own a piece of the networks they help build rather than only owning equity in a company that captures rent. This supports digital property rights, governance, and broader stakeholder participation, leading him to expect most assets and networks to be tokenized over time.
Bitcoin/Ethereum offer direct network ownership.
Owning Bitcoin or Ethereum is not like owning a yield-bearing instrument; it is direct ownership in a network that grows as participation grows, so network effects should increase the value of the asset. Later he adds that he is a long-term investor and is not bothered by Bitcoin's drawdown because adoption, users, institutions, and TVL have expanded.
Stablecoins cut payment costs, boost adoption.
Yat Siu is positive on stablecoins because tokenized dollars or HKD can reduce cross-border and remittance fees to near nothing and serve users without bank accounts, especially in Southeast Asia. Licensed or bank-issued stablecoins also improve consumer confidence and can bring more people on-chain.
AI agents gain true transactional power.
Yat Siu is very bullish on AI and AI agents: falling AI costs should make LLM-powered NPCs economically viable in games, and blockchain tokens give AI agents true transactional agency. He sees this as a major investment area with implications beyond gaming.
DePIN and decentralized compute attractive.
Among Animoca's key investment thematics, Yat Siu names DePIN, decentralized infrastructure, and decentralized compute as areas it likes and is heavily focused on.
Web3 gaming enables true digital ownership.
Gaming is the natural rails for crypto adoption and digital property rights because billions of gamers already value virtual items and status. Blockchain ownership lets players own assets and reputation, transfer value across experiences, and participate in economies; Animoca has over 160 gaming investments and still sees this as a major long-term theme.
Gaming set for catalyst-driven big year.
Yat Siu expects 2025 to be a big year for gaming, driven by Nintendo Switch 2 and GTA 6. GTA 6 should force console upgrades and could help the industry find a new price point after years of flat real revenue.
Nintendo Switch 2 drives console demand.
Yat Siu singles out Nintendo Switch 2 as a key reason gaming should have a big year, because new hardware like Switch 2 and GTA 6 should drive console purchases and upgrade cycles.
Mocaverse tokenizes and rewards digital reputation.
Mocaverse and the MOCA token are focused on digital reputation. Yat Siu argues that portable, measurable on-chain reputation lets projects identify their most valuable users and reward them through airdrops, making reputation itself a valuable network asset.
Axie/Ronin ecosystem remains fundamentally strong.
Despite lower hype, Yat Siu says Axie Infinity is doing well, with AXS still a billion-dollar token, and Ronin has become a multi-billion-dollar chain that supports network effects for other games in its ecosystem.
TON benefits from Telegram distribution.
Yat Siu highlights TON as important for Web3 gaming growth because Telegram has close to a billion users and gives game developers a distribution channel outside Steam and Apple; Animoca is an investor in TON.
Kaia connects Korean-Japanese messenger ecosystems.
Yat Siu points to Kaia, formed by merging Kakao's and LINE's blockchain efforts, as a strong Asian blockchain alliance because Kakao and LINE are dominant messengers in Korea and Japan and the chain provides an open API/app-chain framework for builders.
RWA tokenization boosts liquidity and access.
Yat Siu expects real-world asset tokenization to extend beyond stablecoins into real estate, collectibles, and many other assets. Tokenizing these assets increases liquidity, broadens participation, and lets more people share in network effects; he cites BlackRock's $10 trillion tokenization vision as validation of the scale.
IP tokenization creates capital formation.
Yat Siu sees intellectual property rights as another major tokenization field: music, education, and other IP can be owned on-chain, creating capital formation and property-rights effects similar to the legal protections that made the music industry valuable.
Open Campus tokenizes education IP rights.
Yat Siu says Animoca is applying tokenization to education through Open Campus and EDU, allowing teachers and education IP to become owned assets and creating capital formation around intellectual property rights.
This The David Lin Report video, published March 25, 2025,
features Yat Siu
discussing Hong Kong dollar stablecoin, Tokenization, BTC, ETH, STABLECOINS, AI-SECTOR, AI agents, DEPIN, Decentralized compute, METAVERSE, GAMING, NTDOY, MOCA, AXS, RON, TON, KAIA, RWA, Intellectual property tokenization, EDU.
16 trade ideas extracted by AI with direction and confidence scoring.
Speakers:
Yat Siu
· Tickers:
Hong Kong dollar stablecoin,
Tokenization,
BTC,
ETH,
STABLECOINS,
AI-SECTOR,
AI agents,
DEPIN,
Decentralized compute,
METAVERSE,
GAMING,
NTDOY,
MOCA,
AXS,
RON,
TON,
KAIA,
RWA,
Intellectual property tokenization,
EDU
