Talking Tokenization: Why Every Internet Company Must Tokenize in 2026

Welcome back to Talking Tokens.

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The latest Talking Tokenization podcast 🎙️

For this week’s Tuesday episode, I interviewed Yat Siu, Co-Founder and Chairman of Animoca Brands, to discuss why he believes altcoins will outperform bitcoin, how tokenization will reshape global markets, and why Animoca is preparing to go public through a reverse merger.

Yat explains why he thinks utility tokens are entering a new era, how regulatory clarity will unlock mass tokenization, and why memecoins emerged from regulatory arbitrage. He also breaks down Animoca’s strategy as one of the largest investors in web3, the logic behind owning liquid tokens, why gaming hasn’t yet translated to token performance, and how investor relations is forming in crypto.

The conversation also explores DAOs, consolidation of crypto IPOs, his experience on the ground with institutions in the US, Europe and Asia, and why Gen Z treats trading as entertainment. Yat closes with long-term market outlooks for 2026 and personal advice for surviving the volatility of crypto.

TIMESTAMPS:

00:00 – Intro
00:53 – Yat on market evolution across 620 portfolio companies
01:40 – Institutional era of crypto and why Animoca is preparing to go public
02:58 – Bitcoin held up by institutions and correlation to macro markets and interest rates
03:53 – Regulatory clarity expected in 2026 and why it will trigger mass tokenization
04:33 – Utility tokens absorbing memecoin culture and why the memecoin era is ending
07:19 – Why Animoca now prefers buying undervalued liquid tokens over early-stage rounds
08:54 – Real revenue examples from small gaming projects and how utility will reconnect token value
10:22 – How institutions and funds evaluate tokens and the shift away from pure momentum trading
13:10 – The struggle with investor relations and why good products don’t equal strong token performance
16:01 – DAOs are unprepared to operate like public companies and consolidation is coming
18:36 – Liquidation risks, Bitcoin DAOs and why many tokenized assets may be bought out
20:00 – Why every major token will need a DAO or ETP for institutional access
24:02 – Why Animoca chose a reverse merger and how going public increases global investor access
27:07 – Altcoins as the growth engine and how real utility fuels the next trillion in value
29:03 – Crypto today is like the early internet and why fund structures fail to capture full upside
31:00 – Why Ethereum and Solana don’t capture the full value of what’s built on top of them
33:47 – Bringing private-market exposure of web3 to the public investor
37:00 – Institutional understanding of crypto across the US, Europe and Asia and where demand is strongest
42:05 – Crypto’s volatility, Trump’s influence and shifting capital pools across prediction markets and tokens
45:14 – Gamification of finance and why Gen Z views trading like entertainment
46:42 – Market outlook for 2026 and why political stabilization will drive institutional flows
51:01 – Yat’s advice for the long game: do not overleverage and know your edge as an investor

This episode is sponsored by Securitize, the proven leader in tokenized funds, equities, and private markets. Discover more at securitize.io.

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Money and people moves

1. ETHZilla sells $74.5 million of ether in effort to trim debt load (CoinDesk)

2. Coinbase to acquire prediction markets startup The Clearing Company (The Block)

3. BitMine buys $300 million in ether, bringing its ETH treasury past 4 million tokens

4. Tether-owned firm sells crypto miner to companies run by its founder (Financial Times)

5. Palmer Luckey's digital bank Erebor valued at over $4 billion (Axios)

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Please note that this content is for informational and entertainment purposes only. Any views shared should not be considered financial advice, nor should it be used to make investment decisions. Cryptocurrencies are high risk and you should consult a financial professional before making any financial decisions. Make sure you do your own research. We may have a direct or indirect financial interest in content mentioned in this newsletter.