Animoca Brands and hi: A $30 Million Deal

Animoca Brands partners with hi in a $30M deal to increase the use of NFTs and fungible tokens in the Web3 industry.

Aug 1, 2023 - 16:17
Oct 19, 2023 - 13:50
Animoca Brands and hi: A $30 Million Deal
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Animoca Brands, a leading metaverse company, has made a significant move in the crypto market. They've partnered with hi, a Web3 financial super app, in a deal worth $30 million. This partnership aims to increase the use of both fungible and non-fungible tokens (NFTs) in the Web3 industry. The ultimate goal? To encourage more people to adopt Web3.

A Partnership Worth $30 Million

Animoca Brands and hi have embarked on a partnership that promises to integrate the services of both companies deeply. The plan is to introduce a unique human authentication mechanism using hiP's innovative Proof of Human Identity (PoHI) solution. This will add even more value to the hi ecosystem.

This partnership is not just about the money. It's about bringing together two companies with a shared vision for the future of the Web3 industry. By combining their resources and expertise, Animoca Brands and hi are expected to make significant progress in advancing the adoption of Web3 technologies.

Token Use in the Animoca Brands Ecosystem

As part of the partnership, users will soon be able to spend and earn rewards with specific tokens used within the Animoca Brands ecosystem. These include popular tokens like SAND, EDU, APE, REVV, and GMEE.

This move is expected to significantly enhance the utility and value of these tokens, providing more opportunities for users to engage with the Animoca Brands ecosystem. It's a win-win situation for both companies and their users. Users get more ways to use their tokens, and the companies get to increase user engagement and loyalty.

The partnership between Animoca Brands and hi is focused on bridging the gap between traditional money and cryptocurrency. The collaboration aims to further develop the hi App and hi Protocol to impact the Web3 ecosystem positively.

This move is expected to bring cryptocurrencies closer to mainstream adoption, making them more accessible and usable for everyday transactions. It's a bold move that could change how we think about money and transactions in the future.

Expanding into Digital Assets

To expand into the digital asset space, hi has partnered with Mastercard to introduce its first-ever non-fungible token (NFT) customizable debit cards. Some of the benefits for users of the product include the ability to transact with fiat money, stablecoins, and cryptocurrencies, as well as NFT customization for approved members and designs.

This is a significant step forward in making digital assets more accessible and usable in everyday life, and it clearly indicates the growing acceptance and integration of digital assets in mainstream financial systems.

The partnership between Animoca Brands and hi represents a significant step forward in integrating blockchain technologies into mainstream financial systems. By enhancing the utility of tokens and introducing innovative solutions like the PoHI, this partnership is set to drive the mass adoption of Web3 technologies.

Philip Bohmer Philip is a seasoned journalist that brings clarity to the complex world of cryptocurrencies through his articulate and insightful articles. His passion for blockchain technology fuels his writing, making him a trusted voice in the rapidly evolving digital currency landscape.