Crypto 9 Are Meta and Microsoft the new digital dictatorships?

Are Meta and Microsoft the new digital dictatorships?

– The crypto market has shed more than $2 trillion of its value since November last year.

– A number of investors and traders opted to remain in the backseat as a safeguard against the markets heightened volatility.

– The industry is being led by the founder of a Hong Kong-headquartered game software company and venture capital firm.

– Yat Sui, the executive chairman of Animoca Brands, has revealed that the company is building a portfolio of 340 firms in the social media, gaming, and finance industries in order to grant consumers full control of their digital assets.

– Siu disclosed in an interview with Bloomberg that the objective is to break up digital dictatorships such as Meta Platforms and Microsoft.

– The notion is that since peoples data would, in theory, be decentralized residing on the blockchain as opposed to servers held by big digital giants this would reduce peoples dependency on the big corporations that currently monopolize the market.

– Animoca Brands is now focused on blockchain companies. It bought TinyTap this year and has an investment in Yuga Labs, the creator of Bored Ape Yacht Club. Additionally, the company intends to go public in the next few years.

 

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