The web3 investment giant, Animoca Brands, in a joint venture with digital asset custodian Hex Trust has created the custodial wallet solution known as Gryfyn. According to a statement from Animoca, $7.5 million was raised from investors including Liberty City Ventures, Lavender Hill Capital Partners, Animoca Ventures, Leadblock Partners, Mind Fund, and GameFi Ventures. 

The wallet will be an “NFT-centric, multi-chain” solution with “bank-grade security” that is developed on top of Hex Trust’s infrastructure, according to the announcement.

Arnoldo Concepción, who was previously the co-CEO of Animoca Brands, will now assume the Leadership of Gryfyn. Arnoldo, the Chief Executive Officer of Gryfyn, expressed the company’s excitement and readiness to onboard the market to experience amazing and secure web 3 services.  

Commenting on this, Yat Siu, co-founder and executive chairman of Animoca Brands revealed that Gryfyn is a key component of their task to accelerate mainstream adoption by offering premium user experiences on top-tier products in the open metaverse, where real digital ownership is finally feasible. 

He further added that “It’s also important because we want our users’ data to be protected at all times — something that only a specialized service like Gryfyn can provide.”

The CEO and co-founder of Hex Trust, Alessio Quaglini, expressed his excitement about the global launch of Gryfyn, as it marks another milestone towards completing their aim to unleash ownership in decentralized marketplaces while delivering unmatched security measures. According to him, Gryfyn will become even more crucial, given the growing number of partnerships they have planned over the next few months. 

In November 2022, the wallet had its soft launch during Hong Kong Fintech Week. Although the company was operating covertly, it was able to secure a collaboration with MotoGP.

Animoca  Brands

Leading company in digital entertainment, blockchain, and gamification Animoca Brands is advancing digital property rights and helping to create the open metaverse. The company creates and distributes a wide range of goods, such as the REVV token and SAND token, as well as original games like The Sandbox, Crazy Kings, and Crazy Defense Heroes and goods based on well-known IPs like Disney, WWE, Snoop Dogg, The Walking Dead, Power Rangers, MotoGPTM, and Formula E.

More than 380 Web3 companies, including Colossal, Axie Infinity, OpenSea, Dapper Labs (NBA Top Shot), Yield Guild Games, Harmony, Alien Worlds, Star Atlas, and others, are included in Animoca Brands’ expanding portfolio.

The Hex Trust Group 

The Hex Trust Group is a fully accredited and insured custodian of digital assets. Hex Safe is a proprietary platform that delivers solutions for digital asset protocols, foundations, financial institutions, and the Web3 ecosystem. It was developed by the Hex Trust Group, which is led by seasoned banking technologists and financial services experts.

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