Metaverse gaming conglomerate, Animoca Brands, is committing a $30 million investment in Web3-based Neobank hi. The super financial application previously involved customizing Mastercard credit cards by leveraging blue-chip NFTs.
hi revealed in its recent announcement that brands harbored within the Animoca family are within the pipeline of the Web3 neobank. The remarks echo the update the Metaverse gaming giant issued when confirming a $30 million investment within the financial application. Doing so features in the Animoca Brands to expand the nonfungible token (NFT) utility within the industry.
Animoca Reiterates Commitment to Expand Scope in Virtual Reality
The gaming heavyweight popular for the Ethereum-based The Sandbox affirmed its devotion to expanding its metaverse presence. Addressing the NFC Lisbon conference, The Sandbox chief operating executive Sebastien Borget lauded the entry of tech giants into the virtual reality, metaverse, and NFTs.
Borget singled out the VR headset unveiled by Apple as groundbreaking. The COO confessed that though the tech giant hardly mentioned metaverse during the reveal, he predicted the tech would become critical towards facilitating participation across various digital worlds.
Animoca’s partnership with hi portrays the perfect marriage for entities devoted to expanding the utility of their respective products. Hi topped headlines following the revelation of a joint project with Mastercard. The project involved unveiling customized debit cards featuring Bored Apes, CryptoPunks, and popular NFT collections. The customized product has already been labeled the world first, with the shipping of cards scheduled this quarter.
Sean Rach, who co-founded hi, assured them that the super application is identified with Animoca’s mission and would onboard the metaverse gaming firm brands.
hi Onboarding Animoca Brands to Facilitate Direct Transactions
The executive acknowledged the existence of multiple areas they would collaborate with Animoca. Rach added that the collaboration would undoubtedly bolster awareness while offering invaluable opportunities for the users onboarding within the new ecosystem.
Rach portrayed the partnership as one that will benefit the user’s community when executing direct transactions using various tokens under the Animoca Brands ecosystems. He considered the collaboration as building a compatible platform for users to use the SAND, GMEE, APE, EDU, and REVV via the hi Debit Cards.
The hi co-founder portrayed optimism on Animoca’s $30 million investment as one to deliver much-needed improvements to the Web3 neobank’s existing and new products.
Rach projected that hi would consider supporting corporate accounts by leveraging Animoca’s presence within Latin America. Also, it creates a channel to open the door for hi to pursue new markets using an already-established infrastructure.
Animoca executive chair Yat Siu highlighted that a portion of the $30 million would help further the hi App development. Also, an allocation would fund the hi Protocol development and mainly drive its impact within the broader Web3 ecosystem.
hi Protocol Unveiling Google Login to Integrate Web3
Rach announced that hi Protocol attempts to create user-friendly and comprehensive all-in-one savings. The Protocol targets integrated payments and investments in the awareness that consumers still confront friction in their quest to switch from fiat.
Rach explained that hi prioritizes building a user-friendly and inclusive service platform assembling payments, investments, and savings. The ongoing project is edging closer to 3.5 million users, with a million already undergoing know your customer (KYC) checks.
Animoca anticipates adding value to the hi Protocol. The gaming giant targets improving the Ethereum-oriented layer-2 solution. Both partners agreed to offer a unique mechanism to the developers to facilitate human authentication similar to the Google login within Web3.
Animoca Partners with hi Protocol to Rival Worldcoin Human-only Verification
The move by hi and Animoca Brands to develop the human-only networks wades into the hot-button debate following the unveiling of Worldcoin. The product associated with OpenAI’s Sam Altman seeks to utilize iris scanning to discern real individuals from artificial intelligence (AI) bots by using digital passports labeled World IDs.
Considering that Worldcoin features a system that physically scans users’ irises, it could take many years to reach billions of individuals. The time-intensive project would take longer to pay dividends.
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