In an effort to promote the acceptance and use of Web3 services, Animoca Brands has established a collaborative alliance with hi, a pioneering platform that provides a range of Web3 services. At the core of hi’s offerings are two key components: the hi App, an advanced financial application designed for Web3, and the hi Protocol (hiP), a scalable and Sybil-resistant layer-2 sidechain that is compatible with the Ethereum Virtual Machine (EVM). This partnership aims to facilitate the implementation of a distinctive human authentication mechanism by harnessing the capabilities of hiP’s Proof of Human Identity (PoHI) solution.
Animoca Brands, a prominent player in the NFT market, has committed to backing hi’s mission of providing practical use cases for cryptocurrencies and utility tokens. Through this partnership, users can now seamlessly utilize and earn rewards with specific tokens from the Animoca Brands ecosystem. Among these tokens are SAND, EDU, APE, REVV, and GMEE, among others. The integration of these tokens contributes significantly to the hi platform, which already boasts a user base of over 3.5 million, including one million KYC-ed users as of 2022.
In the previous year, hi garnered attention by revealing the world’s first debit card that allows NFT avatar customization, developed in partnership with Mastercard. Anticipated to be dispatched in the third quarter of 2023, eligible cardholders will have the opportunity to personalize their debit cards with NFT avatars that they truly own. Additionally, this innovative card will grant users the ability to make purchases globally, both with fiat and digital currencies, at over 90 million locations. The distinctive customization feature is expected to bring advantages to the portfolio companies of Animoca Brands.
Yat Siu, the co-founder of Animoca Brands, shared his excitement about the collaboration, stating, “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 positive about the partnership is Sean Rach, co-founder of hi, who expressed, “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 promising synergy between these two entities bodes well for their expansion and the broader Web3 ecosystem. It paves the way for a progressive future where the lines between the physical and digital realms continue to fade. Both Animoca Brands and hi are deeply dedicated to shaping the trajectory of blockchain technology. With the introduction of the pioneering NFT debit cards and ongoing improvements to the hi App and hi Protocol, this partnership is positioned to make a significant difference in the wider Web3 ecosystem.
