Animoca Brands holds a portfolio of more than 630 companies and is known for investments in The Sandbox, STEPN, and Axie Infinity. The company delisted from the Australian Securities Exchange in 2020 and has since grown as a private company, but as of 2026 it is pursuing a Nasdaq listing through a reverse merger with Currenc Group.
Of its more than 630 portfolio companies, roughly 230 are gaming-related, but the firm has been rapidly expanding into AI, DePIN (Decentralized Physical Infrastructure), DeFi (Decentralized Finance), and stablecoins in recent years. Yat Siu (Xiao Yi) said the company is aiming to become "the world's first publicly listed decentralized digital asset conglomerate."
Humans Were the Test Subjects for AI Agents
Siu, co-founder and executive chairman of Animoca Brands, summed up blockchain's history so far this way.
"We humans were the test subjects for AI agents."
The core of Siu's argument is this: the history of blockchain as an industry — stablecoins, security tokens, zero-knowledge proofs — represents infrastructure that humans thought they were building for themselves, but which was actually a proof of concept for AI agents. And now, just as that infrastructure nears completion, its real users — AI agents — are beginning to appear.
