27-5-2025 – In the ever-evolving landscape of blockchain gaming, Yat Siu, co-founder and Chair of Animoca Brands, remains a steadfast pioneer. Since 2018, when the seeds of crypto gaming were first sown, Siu has championed its potential, navigating a sector that has seen dramatic shifts in fortune. Today, the industry faces headwinds, with a palpable dip in enthusiasm compared to its heady early days. The past month alone has witnessed the closure of at least three prominent crypto game studios—Nyan Heroes, Ember Sword, and Blast Royale—each citing a persistent drought in funding as the fatal blow.
Siu, in a candid discussion, emphasised that the fortunes of blockchain gaming are tethered to the broader gaming industry’s vitality. “The value of blockchain gaming will only ascend if the wider gaming narrative—beyond Web3—gains momentum,” he remarked. He pointed to the current dominance of a “bitcoin meta,” suggesting that short-term growth hinges on positive macro-level trends in gaming. For Siu, reigniting excitement requires crafting compelling stories that resonate across the industry, lifting all boats in the process.
The allure of crypto gaming, Siu notes, lies in its unique audience. Unlike traditional gaming, it attracts a diverse crowd: players immersed in the experience, retail investors eyeing financial returns, and “extractors” focused on speculative gains—some individuals even straddle these roles. This speculative energy, he argues, is not a flaw but a defining feature. “The open market fuels a distinct dynamism and engagement,” Siu explained, noting that token buyers and game players are often distinct groups. Studios that strategically target these varied users, he believes, stand to reap stronger returns.
Financial speculation remains a cornerstone of crypto gaming’s appeal, a point Siu insists is often misunderstood or dismissed by critics. “Some refuse to see volatility as anything but a problem, when it’s actually a draw,” he said, highlighting how this speculative quality sets the sector apart.
Looking ahead, Siu sees potential in unexpected quarters. He mused about the possibility of players integrating crypto tokens into roleplay servers for Grand Theft Auto 6, the eagerly awaited 2026 release from Take-Two Interactive. While GTA has never embraced blockchain elements—and persistent rumours of official crypto integration remain unverified—Siu suggests Take-Two’s past resistance to such experiments may soften. “Their stance against crypto in GTA 5 roleplay servers came during a period of intense regulatory scrutiny,” he noted, hinting that evolving attitudes and timing could open new doors.
The GTA franchise, a cultural juggernaut since 1997, continues to command colossal attention. GTA 5 has generated billions, and GTA 6’s debut trailer amassed nearly half a billion views in under 24 hours. Analysts forecast the game will rake in $3.2 billion in its first year alone. Could GTA 6 spark a renaissance in gaming enthusiasm, buoying investor and player interest alike? Siu believes it’s plausible, suggesting its success could ripple through the industry, including the beleaguered crypto gaming sector.
