Dealflow Podcast
In this episode, Keira sits down with David Ching, Investment and Partnership Director at Animoca Brands, to unpack one of the boldest predictions in Web3 right now: tokenize or die. David explains why every business, from a local coffee shop to a global financial institution, will eventually need to interact with tokenized assets, and why the companies that ignore this are repeating the mistakes of those who ignored the internet in the 1990s. They dig into how Animoca has evolved from licensing Disney and WWE IPs into mobile games, to becoming what David describes as the Web3 version of SoftBank, with over 600 portfolio companies spanning gaming, DeFi, AI, RWA, and digital identity. David breaks down the Mochaverse reputation economy, why on-chain identity matters more than ever in a world flooded with AI-generated content, and how agent reputation systems could become the new trust layer for the entire internet. The conversation also covers Animoca's reverse merger with Current and what a US stock listing means for institutional access to crypto, why valuations in Web3 are finally normalizing, what David looks for when backing founders, and the one question every project should ask before issuing a token. He closes with a message to his younger self: stop trying to look smart, and get genuinely curious instead. ___________________________________ KEY TAKEAWAYS * Tokenize or die is not about every company issuing a token. It is about every business eventually interacting with tokenized assets. * On-chain reputation is the answer to a world where AI content is indistinguishable from human content. * Agents need their own reputation systems on chain, just like humans, so their actions can be tracked, audited, and trusted. * Real revenue in six to eight months matters more to investors right now than user numbers, which can be gamed by bots and farming. * Before issuing a token, ask: would removing the token break your business model? If not, you probably do not need one. * The convergence of TradFi and Web3 is accelerating. The equity market is still 10 times the size of crypto, and institutions are finally moving in. ___________________________________ KEY TIMESTAMPS 00:00 [https://www.youtube.com/watch?v=DzGZWAGv_-Q] - Introduction to David Ching and Animoca Brands 01:26 [https://www.youtube.com/watch?v=DzGZWAGv_-Q&t=86s] - Tokenize or die: what it really means for every business 04:32 [https://www.youtube.com/watch?v=DzGZWAGv_-Q&t=272s] - How a local coffee shop could tokenize its loyalty program 08:36 [https://www.youtube.com/watch?v=DzGZWAGv_-Q&t=516s] - Why blockchain and AI are a natural match 09:09 [https://www.youtube.com/watch?v=DzGZWAGv_-Q&t=549s] - What Animoca Brands actually does, explained simply 13:13 [https://www.youtube.com/watch?v=DzGZWAGv_-Q&t=793s] - From Disney IPs to metaverse: the evolution of Animoca 24:36 [https://www.youtube.com/watch?v=DzGZWAGv_-Q&t=1476s] - The Mochaverse reputation economy and why it matters for AI 33:14 [https://www.youtube.com/watch?v=DzGZWAGv_-Q&t=1994s] - Where founders should be building right now 39:56 [https://www.youtube.com/watch?v=DzGZWAGv_-Q&t=2396s] - Animoca's reverse merger with Current and the US stock listing 44:22 [https://www.youtube.com/watch?v=DzGZWAGv_-Q&t=2662s] - What David looks for when backing founders 48:09 [https://www.youtube.com/watch?v=DzGZWAGv_-Q&t=2889s] - Red flags: overinflated valuations and chasing narratives 01:10:59 [https://www.youtube.com/watch?v=DzGZWAGv_-Q&t=4259s] - Message to his 17-year-old self: be genuinely curious ___________________________________ GUEST David Ching - Investment and Partnership Director, Animoca Brands Website (Animoca): https://www.animocabrands.com/ [https://www.youtube.com/redirect?event=video_description&redir_token=QUFFLUhqa2I0aWpfQ1NWdXk4ZnU1b2l5Rkt1b3RYS09HUXxBQ3Jtc0ttYVNkbGZTUEZjaUREcEJyX3ZkZDNwSmx4YTJLcENRMTJpTE5SNVB0Ui1kTzNDX0Nkc1FiQ0E5UkJ4ZndZclNPMGpFbkFCb1NzWTliSXhXTHFWV2VwUzF2WU5CbDhhdG05THZnX2kzdEI1c1d0QVBUOA&q=https%3A%2F%2Fwww.animocabrands.com%2F&v=DzGZWAGv_-Q] X (Animoca): https://x.com/animocabrands [https://www.youtube.com/redirect?event=video_description&redir_token=QUFFLUhqa3dTSW5YQWJoakZKUHBlSDBteE9vNHdJWlpjZ3xBQ3Jtc0tsY0M1TVNVRWUybWlQOVE3czUwR1JBUWJJSDU2ODNqd29zbUVDUWpTVXkwVzB3XzdKQ2RqZU1nQ3Q3SXZiWGVNcmdDQ3VQRGotUG5rSkN2NFAtdFR6ZU9nYm40UloybkhVZW1tYjh0eWFHUTRCSV9PZw&q=https%3A%2F%2Fx.com%2Fanimocabrands&v=DzGZWAGv_-Q] X (David): / 0xabcdave [https://www.youtube.com/redirect?event=video_description&redir_token=QUFFLUhqbjEzYVJtWHNvM2NocnVFa2tPLUdRNVFjTEdZd3xBQ3Jtc0trcy1RYmc5SUNkbW4zd2JHZE5MVTBSRjk4WFFiWGtvUEEyLXJBZ19hUU1IZWNsY0tZLXlGVUpHeUJ1Z3pjbGFwV0I2ZjNTTkZEQ3hNazVnXzZpTE1aOGduajJ1dTU5bDhkdzdVTFV5VmxSQTltUEZraw&q=https%3A%2F%2Ftwitter.com%2F0xAbcdave&v=DzGZWAGv_-Q] LinkedIn (David): / david-ching-hk [https://www.youtube.com/redirect?event=video_description&redir_token=QUFFLUhqbm1GdjdKLW9jcExfemU3c0VZMkdWa0xWdjV3Z3xBQ3Jtc0trbEZ4WGt2SGtDUmtuSl9Qdk9menNaa29DNllfMWN4N3ZsMUhzMmY5Sjh1clJCWDgyLUFaT3B2ZXV6b3V1aDJ2aVpFVzRydzB3TjNYTnM3U2cyU211eVA3aTVmNWNtaWE3Vm1ENndDS3FVS0hxamZZTQ&q=https%3A%2F%2Fwww.linkedin.com%2Fin%2Fdavid-ching-hk%2F&v=DzGZWAGv_-Q] HOST Keira Nesdale - MH Ventures Portfolio Manager X (Keira): https://x.com/RealMissAI [https://www.youtube.com/redirect?event=video_description&redir_token=QUFFLUhqblp1a2JmOFAtWDlqU2xnT1RHZUtmN1FYdF8xd3xBQ3Jtc0trU3JjdEQydTVQeGdDdWpzRGZZUzdHaklzZ3I5MkxVSUZXZV8tLVpKMmtZZVN2SUkyVy1GandpUTRCZzRWNlR5amNiQVI4U1A3TkFEQ0poNTk4NXRQenphMGtWMG9ZYjhmMjA5M3pLYk90ck1Zd1hEcw&q=https%3A%2F%2Fx.com%2FRealMissAI&v=DzGZWAGv_-Q] LinkedIn (Keira): / keira-nesdale-b287899b [https://www.youtube.com/redirect?event=video_description&redir_token=QUFFLUhqbklIaUFHX3NXQWRMMTN6MXlmcktJWWxmVnNaQXxBQ3Jtc0tsb29od1I3TjBWeV8tOXdMX2Nrd0ZZSlJsaWN6U3BMbmdQb3BGNUs0b1dkc2djc2pfaEhtU2RVcW56Y1IxQTRNYXFiVGQtanpLM2lYZkxNamFoUzJETWhoVXdzNFhiRHFLMjlrOWQ2MHlWMWQ0bGhyOA&q=https%3A%2F%2Fwww.linkedin.com%2Fin%2Fkeira-nesdale-b287899b&v=DzGZWAGv_-Q] X (DealFlow): https://x.com/dealflowpodcast [https://www.youtube.com/redirect?event=video_description&redir_token=QUFFLUhqbmpuQ2dJWUdFSE9yOTBQM01NZXc3WVc2QmFhd3xBQ3Jtc0ttM0dwM2cyUFh6RnFoMGY3aEFDcEZLVVhFMGp5Si1DeHIwLWtjS3ZwREZfTk5SeEgyeTFqQVp0UjNMUEcweHRhTVdTbmJvN1VPdWVtV2xVTWdwZGlHb2VTd3pNLXFaaHVxZk9ETnZCekF3Mms0elN1QQ&q=https%3A%2F%2Fx.com%2Fdealflowpodcast&v=DzGZWAGv_-Q] Website (MH Ventures): https://www.mhventures.io/ [https://www.youtube.com/redirect?event=video_description&redir_token=QUFFLUhqbE1sRF9CLWJuOE82R1hiNjE1UTFWaHZHVXNRUXxBQ3Jtc0tuTXBjOXpGTWxwb2xjOG5hSHpsUlVqeEgxQ1hiUFhNX2JtLTFYbkl2MG1jNjJXUFNsLV90X3J6Vm16MTBld1YwV1FhOE9xaThtQnJyR3drQ1hEcFNtN0lETWZBemFjeEd5Sy1oSzdPN0VfelpNbW91bw&q=https%3A%2F%2Fwww.mhventures.io%2F&v=DzGZWAGv_-Q] LinkedIn (MH Ventures): / mhventure [https://www.youtube.com/redirect?event=video_description&redir_token=QUFFLUhqa0J6bjdqT3RWcEpOeExrckZHVEpnNS1FWW9FUXxBQ3Jtc0tuMjVvanJhSWZJTnRRXzRlMmxrUnFoZEJsQWNuQUJKUmRmLWhSSUpYc2NaT25EX0xWR1pZTFA1NjJnQUJSY3BhT3p6ZjVWNHBsaHNqRi10Z1FPajdGMkhyQWJtbXE3dGdyOVQ4M05DVWF0WS1nLUF4Zw&q=https%3A%2F%2Fky.linkedin.com%2Fcompany%2Fmhventure&v=DzGZWAGv_-Q] ___________________________________ HASHTAGS #AnimocaBrands [https://www.youtube.com/hashtag/animocabrands] #Tokenization [https://www.youtube.com/hashtag/tokenization] #RWA [https://www.youtube.com/hashtag/rwa] #Web3 [https://www.youtube.com/hashtag/web3] #Blockchain [https://www.youtube.com/hashtag/blockchain] #Crypto [https://www.youtube.com/hashtag/crypto] #AI [https://www.youtube.com/hashtag/ai] #AIAgents [https://www.youtube.com/hashtag/aiagents] #DeFi [https://www.youtube.com/hashtag/defi] #NFT [https://www.youtube.com/hashtag/nft] #DigitalAssets [https://www.youtube.com/hashtag/digitalassets] #RepEconomy [https://www.youtube.com/hashtag/repeconomy] #TradFi [https://www.youtube.com/hashtag/tradfi] #Web3Gaming [https://www.youtube.com/hashtag/web3gaming] #DealFlowPodcast [https://www.youtube.com/hashtag/dealflowpodcast]
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