Yat Siu, the chairman of Animoca Brands and an investor in web3, is pleading with markets to support creative remuneration.
Siu told The Block at NFT Paris that artists and other crypto-creatives should have the freedom to decide their own conditions without seeking approval from bigger companies.
Siu also criticizes methods that do not pay content providers for their work and instead reward traders for generating liquidity, calling such practices "sort of demeaning" and "an infringement."
According to Siu, the next bull run will be "powered by culture," and royalties are necessary to support businesses and creators so they can keep creating the ecosystem.
Siu anticipates that the newest fund from Animoca, which aims to support later-stage businesses, will close in the first quarter of the year with a number of partners engaged.
Once FTX failed, the company's initial goal of raising up to $2 billion for a fund centered on the metaverse was reduced to about $1 billion.
Siu adds that there is already a sizable transaction flow, with "three or four deals a week" going through the financing powerhouse, and that she is sure that the company's accounts will be available in March.
Siu claimed that because values are cheaper and the builders are better, the current market is a favorable opportunity to invest in the web3 ecosystem.