Prominent tech critics have been vocal about the power that several tech companies have, and the co-founder of a mighty crypto behemoth just echoed that.

Yat Sui, a leader of the Hong Kong-based Animoca Brands — which backs a number of significant crypto projects and owns The Sandbox — told Bloomberg in a report published Wednesday that his firm has invested in more than 340 firms spanning finance, gaming, and blockchain. 

He told Bloomberg that they’re aiming to disarm tech giants that are dominating the industry and return online ownership of one's digital identities and properties back to users. He signaled that Meta, Facebook's new parent company, and Microsoft were "digital dictatorships" without saying more in the interview.

Web3 is, in theory, the future of the internet that will live on the blockchain. Thanks to its decentralized nature, no company can take complete control.

Web3 enthusiasts argue that a decentralized online world can strip power from the tech monopolies of Web2, namely Meta, Google, Apple, and others. 

Web3 is still merely a thought, despite Mark Zuckerberg's screaming from the rooftops that the metaverse is the future and spending $10 billion on building it.

Nonetheless, Siu and Animoca Brands have been in the Web3 sphere since before the term became a buzzword.

The firm was founded in 2014 and has invested in a number of significant crypto projects. First, it bought a stake in Dapper Labs, the parent company of Cryptokitties, in 2018 and owns The Sandbox, one of the more prominent metaverses where rapper Snoop Dogg "lives."

Animoca has also backed Axie Infinity, a hot crypto game, and OpenSea, the world's largest online NFT marketplace.