Home Finance News Animoca Brands and hi Forge a Groundbreaking Partnership to Boost Web3 Adoption

Animoca Brands and hi Forge a Groundbreaking Partnership to Boost Web3 Adoption

In a groundbreaking development aimed at advancing digital property rights and financial innovation in the Web3 space, Animoca Brands and hi have inked a Memorandum of Understanding (MOU) to create a powerful synergy in the world of blockchain and gaming. This monumental collaboration will see Animoca Brands, a prominent name in digital entertainment, invest a substantial US$30 million in hi, a leading Web3 financial application, and ecosystem. The two entities will leverage their respective resources to maximize the utility of fungible and non-fungible tokens (NFTs) in the Web3 arena, providing developers with an innovative human verification system through hi Protocol’s landmark Proof of Human Identity (PoHI) solution.

The Power of Collaboration: Animoca Brands and hi Unite

Under the terms of the MOU, Animoca Brands and hi will join forces to introduce real-time use cases for cryptocurrencies and utility tokens, empowering users to spend and earn rewards within the expansive Animoca Brands ecosystem. The platform includes popular tokens like SAND, EDU, APE, and more, offering users a seamless experience for their savings, investments, and payments needs.

hi, a leading player in the Web3 space, boasts an impressive user base of over 3.5 million, with one million KYC-ed users. The company has already made waves in the NFT space, partnering with Mastercard to launch the world’s first debit card with NFT avatar customization. Cardholders will soon have the unique opportunity to own personalized debit cards featuring NFT avatars and use them to spend both fiat and digital currencies at over 90 million global locations.

The hi Protocol, a Sybil-resistant Layer 2 sidechain for Ethereum, will serve as the backbone of the hi ecosystem, while the hi App, a cutting-edge finance application for Web3, will offer users seamless access to services related to savings, investments, and payments. This pioneering approach of combining a crypto exchange with a digital banking platform under one roof positions hi as a leader in the financial innovation space.

The Vision: Bridging the Gap between Crypto and Fiat Realms

According to Yat Siu, the Co-Founder and Executive Chairman of Animoca Brands, this collaboration bridges the gap between the cryptocurrency and fiat realms, supporting the development of the hi App and hi Protocol for the greater good of the Web3 ecosystem. The partnership will accelerate the integration of cryptocurrencies and utility tokens into everyday life, making them more accessible and user-friendly for a wider audience.

For Sean Rach, Co-Founder of hi, joining forces with Animoca Brands is a thrilling opportunity. He believes that hi’s products and services, with the backing of Animoca Brands’ expertise in supporting top Web3 brands, will foster mass acceptance of blockchain technology. This partnership is expected to drive financial inclusion, introduce innovative financial products, and redefine the way people interact with digital assets.

The Growth Trajectory of Animoca Brands: Advancing Digital Property Rights

Animoca Brands continues to lead the charge in digital entertainment, blockchain, and gamification. The company’s efforts in advancing digital property rights and establishing an open metaverse have garnered significant attention. With an extensive portfolio of products and games like The Sandbox and Phantom Galaxies, Animoca Brands is a force to be reckoned with in the industry.

The Sandbox, a virtual world and gaming platform powered by blockchain technology, has seen remarkable success in empowering creators and players to monetize their experiences through the use of NFTs. The platform’s play-to-earn model has revolutionized the gaming industry and demonstrated the potential of blockchain technology in enabling decentralized and player-centric ecosystems.

Similarly, Phantom Galaxies, an innovative blockchain-based trading card game, has gained popularity for its unique blend of gameplay and NFT ownership. Players can collect, trade, and battle with NFT cards, creating a vibrant and immersive gaming experience.

The Significance of the Partnership: Unlocking New Possibilities

The partnership between Animoca Brands and hi signifies a landmark moment in the Web3 revolution, unlocking new possibilities for innovation, financial inclusion, and widespread adoption of blockchain technology. As the crypto and gaming landscapes continue to evolve, this collaboration promises to shape the future of digital experiences and redefine the way we interact with the metaverse.

The integration of hi’s financial services and PoHI solution with Animoca Brands’ extensive ecosystem of games and digital assets will create synergies that drive adoption and utility for cryptocurrencies and NFTs. This collaboration will empower users with greater control over their digital assets, bridging the gap between traditional finance and the crypto world.

Conclusion

The partnership between Animoca Brands and hi represents a transformative step forward in advancing digital property rights and financial innovation in the Web3 space. By leveraging their respective resources and expertise, the two entities aim to maximize the utility of fungible and non-fungible tokens (NFTs) in the Web3 arena, providing users with innovative financial solutions and seamless access to services related to savings, investments, and payments.

As the collaboration progresses, it promises to reshape the way people interact with digital assets, driving financial inclusion and empowering users to participate actively in the Web3 ecosystem. With Animoca Brands’ experience in digital entertainment and hi’s pioneering approach to combining crypto exchange and digital banking, this partnership is set to redefine the future of blockchain gaming and financial services.

The crypto and gaming communities are eagerly awaiting the developments that will arise from this groundbreaking partnership, as it has the potential to drive mass adoption of blockchain technology and open new avenues for financial innovation. The future of Web3 is brighter than ever, with Animoca Brands and hi leading the way towards a more decentralized, inclusive, and immersive digital landscape.

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James

James T, a passionate crypto journalist from South Africa, explores Litecoin, Dash, & Bitcoin intricacies. Loves sharing insights. Enjoy his work? Donate to support! Dash: XrD3ZdZAebm988BfHr1vqZZu6amSGuKR5F

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