In a thought-provoking opinion piece published on May 15, 2025, Yat Siu, executive chairman and co-founder of Animoca Brands, explores the complex nature of value in the digital realm, particularly concerning cryptographic tokens and their role in the open metaverse. Siu addresses a common inquiry he receives at public events: how can virtual assets like non-fungible tokens (NFTs) hold real monetary value despite their intangible nature?
Siu traces the roots of ownership in intangible assets back to the Statute of Anne, enacted in 1710, which laid the groundwork for modern copyright laws. This legislation distinguished between creators and distributors, empowering authors and artists to retain control over their works and derive economic benefits from them. The impact of such intellectual property protections has been profound, fueling innovation and creativity across centuries.
Today, Siu emphasizes the importance of recognizing intangible assets, which have become increasingly dominant in the global economy. He cites the U.S. Patent and Trademark Office‘s estimation that IP-intensive industries contributed 41% of U.S. economic activity in 2019, underscoring the significance of ownership in fostering economic growth.
As blockchain technology emerges as a solution for proving ownership and facilitating transactions in the digital landscape, Siu advocates for the advancement of digital property rights. He argues that just as intellectual property has historically empowered creators, the principles of ownership in the digital age can unlock new avenues for creativity and economic empowerment.
In conclusion, as society navigates the complexities of digital ownership, Siu’s insights highlight the essential role that intellectual property and blockchain technology will play in shaping the future of the open metaverse, ensuring that creators are fairly rewarded for their contributions in a rapidly evolving landscape.
