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Animoca Brands Joins Forces with hi in US$30 Million Deal

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Animaco Brand, a metaverse firm focused on advancing digital property ownership, has signed a $30 million rela with hi, a Web3 financial super app and ecosystem.

The partnership aims to boost the utility of fungible tokens and non-fungible tokens (NFTs) within the Web3 industry. With a shared goal of driving Web3 mass adoption, the deal is expected to result in deep integration between Animoca Brand and hi’s innovative services.

A breakdown of the deal reveals that the companies will work on introducing a unique-human authentication mechanism using hiP’s groundbreaking Proof of Human Identity (PoHI) solution, further enhancing the hi ecosystem.

Also users will soon be able to directly spend and receive rewards with specific tokens used within the Animoca Brands ecosystem, including popular tokens like SAND, EDU, APE, REVV, and GMEE, among others. 

Yat Siu, the co-founder and executive chairman of Animoca Brands, expressed excitement about investing in and partnering with hi. 

The focus is on bridging the gap between fiat and cryptocurrency worlds, and the collaboration aims to further develop the hi App and hi Protocol for the Web3 ecosystem’s positive impact.

Sean Rach, the co-founder of hi, commented on the partnership, expressing pride in working closely with Animoca Brands. 

Given their experience in supporting early and prominent Web3 companies, teaming up with Animoca Brands will help boost the adoption of hi products and services, contributing to mass adoption for blockchain technology.

In a bid to expand into the digital asset space, hi partnered with Mastercard in to introduce its first-ever non-fungible token (NFT) customizable debit cards. 

Some of the benefits for users of the product are transacting with fiat, stablecoins, cryptocurrencies, as well as NFT customization for approved members and designs.

Read also; UK and Singapore join forces to set global crypto standards and explore CBDCs

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