in 2006. Blockchain gaming a massive bet on the idea of “true digital ownership” where players can not only buy and sell items within a game but where those assets have an existence independent of that game. How that plays out practically in an industry where competing game developers can’t even agree on the most basic standards is anyone’s guess, but one NFT-gaming application has already caught on: Play-to-earn.
Siu’s passion for technology burned from an early age. Growing up in Vienna in the 1980s, he felt like an outsider due to his Chinese heritage. He found refuge in computers, and the burgeoning internet, to escape his loneliness. After dropping out of college, and bouncing around through a handful of entrepreneurial ventures, Siu founded Hong Kong-based email company Outblaze in 1998. It was his first big score. In 2009, he sold the company’s cloud division to IBM for a sum in the hundreds of millions. Siu used most of his multi-million-dollar payday to help recapitalize the company during the ensuing economic downturn.
It was hardly smooth sailing. In 2012, when Apple, one of Animoca’s biggest distribution platforms, abruptly removed all of Animoca’s games from the App Store. No explanation was given. He suspects his strategy of launching a new game every week was deemed “spamming” by Apple. Siu shifted the company to producing kids’ games that licensed popular brands like Thomas and Friends, landing back on the App Store in 2013 until Apple de-emphasized the category, dealing a crushing blow.
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Source: Forbes - 🏆 394. / 53 Read more »