Animoca Brands, a renowned presence in the blockchain gaming and Web3 sphere, has made a significant investment of $30 million in Hi, a neobank platform. Led by Yat Siu, co-founder, and executive chairman of Animoca Brands, this strategic move aims to redefine the landscape of digital finance by introducing NFT-styled crypto debit cards and personalized Web3 services.
Hi’s Vision: Empowering with NFT Debit Cards and Personalisation
Hi stands as a groundbreaking Web3 app that seamlessly combines cryptocurrency exchange, digital banking services, and distinctive NFT-styled crypto debit cards. This strategic partnership leverages culture and Web3 technology to empower Hi’s users with personalised Mastercard debit cards adorned with NFT avatars they own. Beyond aesthetics, this innovation enhances the utility of Web3 tokens and NFTs for the users.
Say hi to the most rewarding Debit Card 💳
➡️ Up to 12% Back in Spend Rewards On Almost Every Purchase
➡️ Flexibility to spend your crypto, stablecoins, GBP or Euros
➡️ Unbeatable Card Benefits with Digital Subscriptions and Travel Benefits for Gold+Activate directly in the hi… pic.twitter.com/QIn8Z1swbY
— hi | Web 3 Neo-Banking (@hi_com_official) July 29, 2023
Exploring the Full Potential of Web3 Tokens and NFTs
The collaboration between Animoca Brands and Hi holds immense potential to unlock the value of Web3 tokens and NFTs. Hi’s ecosystem integrates Web3-enabled financial applications and the Hi protocol, an Ethereum Virtual Machine-compatible sidechain. This integration allows users to seamlessly transact Animoca’s Web3 ecosystem tokens, including popular ones like The Sandbox’s SAND and ApeCoin (APE). With a user base of over 3.5 million, Hi has already garnered substantial attention in the digital finance arena.
Pioneering Decentralisation: The Proof of Human Identity Solution
Hi’s protocol introduces an ingenious “unique-human authentication mechanism” aimed at addressing the shortcomings of the Web2 era, where dominant credential providers controlled user data and identity. Leveraging a dual-node structure, identity validators verify accounts owned by humans, while block producers ensure network security. This approach paves the way for “human-only” networks and decentralized applications, fostering inclusivity and decentralization within the Web3 ecosystem.
Expansion Through Licensing and Recognition
Hi’s progress includes securing a VASP (Virtual Asset Service Provider) license in Lithuania and recognition as a digital currency operator by Italy’s payments service regulator. The platform is also pursuing pre-registration to obtain a VASP license through the Hong Kong Securities and Futures Commission, indicating its expanding footprint in Asia.
Driving Mass Adoption of Web3
Yat Siu’s investment in Hi is driven by the belief that the platform’s core application will serve as a catalyst for on- and off-ramp rails, propelling mass adoption of Web3. The partnership between Animoca Brands and Hi can introduce a new wave of users to the Web3 space, thereby further fostering the adoption of Animoca’s flagship brands, including The Sandbox.
Solidifying Animoca Brands’ Dominance in Web3
With strategic investments in blockchain gaming, Web3 projects, and the revolutionary neobank platform offered by Hi, Animoca Brands firmly establish its position as a major player in the NFT and Web3 landscape. The company’s active role in shaping the future of Web3 underscores its commitment to a more personalized and decentralized digital economy. The collaborative journey with Hi exemplifies the immense potential of Web3 to reshape the financial landscape, empowering users with unparalleled personalisation and control over their digital assets.
Animoca Brands and @hi_com_official 🤝🏻
We entered into a MoU for partnership to support hi's dedicated work in bridging fiat & cryptocurrency worlds to onboard #Web3 to mass, creating real-world use cases for utility tokens like $SAND, $EDU, $APE & more! https://t.co/i5qOjMluPv— Animoca Brands (@animocabrands) July 27, 2023
