Animoca Brands Chairman Declares Metaverse Over, Predicts 100 Billion AI Agents

May 22, 2026 — Animoca Brands chairman Yat Siu announced at Consensus Miami 2026 that the metaverse, as originally envisioned during the pandemic, is dead as a consumer destination. Siu instead predicted 50 to 100 billion AI agents will become blockchain’s primary users, vastly outnumbering human cryptocurrency participants.

Immediate Details & Direct Quotes

Siu told the Consensus Miami 2026 conference on Thursday that the blockchain-based metaverse was never truly designed for human consumers. “Where we’re landing is that the metaverse, the blockchain-based one, was really the proof of concept for agents,” he said. “In other words, it was never really destined for humans as a prime consumer.”

The remarks represent a significant pivot for Animoca Brands, which was among the most vocal proponents of the pandemic-era vision where users would spend increasing amounts of their social and economic lives in immersive virtual environments. Siu attributed the earlier misconception to COVID-19 lockdown conditions, when many assumed remote digital life would become permanent.

“Everyone thought, ‘Oh, we’re going to be at home, and we’re never going to travel as much anymore,'” Siu recalled. “Which, of course, turned out to be quite the opposite.”

As part of the strategic shift, Animoca announced a $10 million investment initiative for developers building AI agent applications through its Animoca Minds platform, framing autonomous agents as the firm’s next major investment category following the metaverse era.

Market Context & Reaction

Siu’s new thesis centers on blockchain technology becoming the financial infrastructure for machine-to-machine transactions. “Blockchain technology is the ideal financial system for machines,” he said. “We, the humans, were basically the guinea pigs.”

The argument addresses a persistent challenge limiting crypto adoption. According to industry data cited by Siu, approximately 700 to 800 million people globally own some form of cryptocurrency, yet fewer than 70 million actively use blockchain applications. The technology remains too complex for mainstream consumers—a barrier AI agents don’t face.

Agents interact directly through code, require no traditional banking infrastructure, and can transact autonomously on-chain. Siu estimates 50 to 100 billion AI agents could eventually operate on the internet. Based on current global population math, that translates to 10 to 20 agents per human, producing between 70 and 140 billion agents worldwide.

“I think the point is that it’s going to be more agents than humans,” Siu stated.

Background & Historical Context

Animoca Brands built its reputation as a leading metaverse advocate during the pandemic. The Hong Kong-based software and venture capital firm invested heavily in blockchain gaming, digital land, and virtual world infrastructure, positioning itself at the center of the Web3 metaverse movement.

The company’s portfolio includes investments in The Sandbox, Decentraland, and other virtual world projects that attracted billions in speculation during 2021 and early 2022. The metaverse concept drove significant capital inflows, with major brands and celebrities purchasing virtual real estate and launching digital experiences.

However, user engagement metrics never matched the hype. Most virtual worlds saw declining active users after lockdowns ended, as consumers returned to physical travel and in-person social activities. The disconnect between speculation and actual usage has forced metaverse-focused companies to reassess their strategies.

What This Means

In the short term, Animoca’s pivot signals a potential industry-wide shift away from consumer metaverse narratives toward AI agent infrastructure. The $10 million Animoca Minds investment initiative will likely accelerate development of autonomous agent applications on blockchain networks.

Long-term implications suggest blockchain networks may prioritize machine-to-machine transactions over human user interfaces. This could fundamentally change how crypto projects design their products, shifting focus from user experience improvements toward agent-compatible protocols and smart contract standards.

For investors and developers, the announcement suggests opportunities may lie in building agent infrastructure, including identity systems, payment channels, and autonomous transaction protocols, rather than consumer-facing metaverse applications.

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