Animoca Brands Investing $30M in hi, Forming Tactical Partnership

Web3 financial super app “hi” and Animoca Brands have entered a strategic partnership, with Animoca investing $30 million in hi. The partnership will see Animoca invest $30 million into hi, with the venture collaborating on several new initiatives.

hi, the Web3 financial super app and ecosystem, and Animoca Brands, the company advancing digital property rights for gaming and the metaverse, have teamed up by entering into a memorandum of understanding (MoU) for a strategic partnership.

Part of the partnership, subject to agreement of definitive terms, will see Animoca Brands invest $30 million in hi and collaborate on several new exciting initiatives. The companies’ shared vision aims to amplify the utility of fungible tokens and NFTs (non-fungible tokens) within the Web3 space.

Hi and Animoca Will Provide Unique-Human Authentication Mechanisms

The partnership will lead to deep integration between Animoca’s ecosystem and hi’s innovative services driving Web3 mass adoption. With a strong focus on boosting the hi ecosystem, anchored by the hi App – a cutting-edge financial super app for Web3 – and the hi Protocol (hiP) – a scalable, EVM compatible, Sybil-resistant layer-2 sidechain for Ethereum – the companies will work to provide developers with a unique-human authentication mechanism through hiP’s ground-breaking Proof of Human Identity (PoHI) solution.

Animoca is an undisputed leader in the NFT space and, with such a reputation, will support hi’s vision to deliver real-world use cases for cryptocurrencies and utility tokens, allowing users to directly spend and be rewarded with specific tokens used in the Animoca ecosystem, including SAND, EDU, APE, REVV, GMEE, and others.

In 2022, hi – with over 3.5 million users, of which 1 million are KYC-ed- announced the world’s first debit card featuring NFT avatar customization powered by Mastercard. With the first cards shipping in Q3 2023, eligible cardholders can personalize the face of their debit card with an NFT avatar they verifiably own and spend their fiat and digital currencies at more than 90 million locations worldwide. Animoca Brands’ portfolio companies will undoubtedly benefit from this unique customisation feature.

Yat Siu, the co-founder and executive chairman of Animoca Brands, said:

“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.”

Sean Rach, the co-founder of hi, commented on the partnership:

“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.”

About hi

hi is building the world’s most user-friendly and functional app for crypto and fiat. It combines the functionality of a crypto exchange with a next-generation digital banking platform. The company provides members with an all-in-one service for savings, investments, payments, and lifestyle benefits. Almost 3.5 million people from 190+ markets have signed up for hi, and the hi App has been downloaded over 2 million times. Visit hi on Telegram, Twitter, Instagram, LinkedIn, or its website - hi.com.

hi is Payment Card Industry Data Security Standards (PCI DSS) certified.

hi has completed its registration as a Virtual Assets Service Provider (VASP) in Lithuania and registered as a Virtual Currency Operator with Italy’s payments services regulator, the Organismo Agenti e Mediatori (OAM).

hi has also completed the pre-registration activities under the supervision of the Hong Kong Securities and Futures Commission (SFC) to secure its Virtual Asset Trading Platform license. Download the iOS App  or Download the Android App.

About Animoca Brands

Animoca Brands, a Deloitte Tech Fast winner, a Fortune Crypto 40 company, and one of the Financial Times’ High Growth Companies Asia-Pacific 2023, is a leader in digital entertainment, blockchain, and gamification working to advance digital property rights and contribute to establishing the open metaverse.

The company develops and publishes a broad portfolio of products, including original games such as The Sandbox, Phantom Galaxies, Life Beyond, Crazy Kings, and Crazy Defense Heroes, and products utilizing popular intellectual properties including Disney, WWE, Snoop Dogg, The Walking Dead, Power Rangers, MotoGPTM, and Formula E.

It has multiple subsidiaries, including The Sandbox, Blowfish Studios, Quidd, GAMEE, nWay, Pixowl, Forj, Lympo, Animoca Brands Japan, Grease Monkey Games, Eden Games, Life Beyond Studios, Notre Game, TinyTap, Be. , PIXELYNX, and WePlay Media.

Animoca Brands has a growing portfolio of over 450 Web3 investments, including Colossal, Axie Infinity, OpenSea, Dapper Labs (NBA Top Shot), Yield Guild Games, Harmony, Alien Worlds, Star Atlas, and others.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.