In a bid to drive the adoption of Web3 services, Animoca Brands has formed a partnership with hi, an innovative platform offering various Web3 services. Central to hi’s offerings are the hi App, a state-of-the-art financial application for Web3, and the hi Protocol (hiP), a scalable, Sybil-resistant layer-2 sidechain compatible with Ethereum Virtual Machine (EVM). The partnership is anticipated to aid in delivering a unique-human authentication mechanism by leveraging the potential of hiP’s Proof of Human Identity (PoHI) solution.
Animoca Brands’ – Enhancing Crypto Use Cases
Animoca Brands, a leading entity in the NFT market, has pledged its support to hi’s mission of delivering practical applications for cryptocurrencies and utility tokens. As part of this collaboration, users can directly spend and earn rewards with selected tokens from the Animoca Brands ecosystem. These tokens include but are not limited to, SAND, EDU, APE, REVV, and GMEE. The hi platform benefits immensely from this integration, with a user base exceeding 3.5 million and one million KYC-ed users as of 2022.
The Future of Payment: NFT Customized Debit Cards
Last year, hi made waves by announcing the launch of the world’s first debit card featuring NFT avatar customization in collaboration with Mastercard. With the initial batch of cards expected to ship in the third quarter of 2023, eligible cardholders can customize their debit card with a verifiably owned NFT avatar. Moreover, the card will enable users to spend their fiat and digital currencies globally at over 90 million locations. Animoca Brands’ portfolio companies are expected to benefit from this unique customization feature.
Stakeholder Perspectives and Future Implications
Yat Siu, the co-founder of Animoca Brands, expressed his enthusiasm for the partnership: “We are looking forward to investing in and partnering with hi, which is committed to bridging the gap between the fiat and cryptocurrency worlds. As part of this partnership, we will collaborate with hi on its continued development of the hi App and the hi Protocol to drive positive impact for the broader Web3 ecosystem.”
Equally optimistic is Sean Rach, the co-founder of hi, who stated, “hi is proud to work closely with Animoca Brands, especially given its experience in backing some of the earliest and most prominent Web3 companies. By teaming up with Animoca Brands, we will be able to boost the adoption of hi products and services, helping to drive mass adoption for blockchain technology.”
The synergy between these two entities holds great promise for their growth and the larger Web3 ecosystem. It sets a progressive course towards a future where the boundaries between the physical and digital worlds continue to blur. Both Animoca Brands and hi share a strong commitment to shaping the future of blockchain technology. With the launch of the first NFT avatar-customizable debit card and the continuous enhancement of the hi App and hi Protocol, the partnership is poised to make a tangible impact on the broader Web3 ecosystem.