Animoca Brands has officially become a validator and ecosystem contributor for MultiversX, marking a significant advancement in the blockchain ecosystem. This partnership aims to harness the synergies between Animoca Brands and the MultiversX blockchain network, enhancing support for creators, users, and businesses transitioning to on-chain solutions.
Animoca Brands: A Leader in Blockchain
Originally founded as a mobile game company in 2014, Animoca Brands shifted its focus to Web3 in 2018. Since then, it has established itself as a leading investor and builder in the blockchain sector. The Hong Kong-based company has made significant investments in notable projects such as OpenSea, Decentraland, and The Sandbox, which it acquired in 2018.
With a concentration on gaming, digital collectibles, open worlds, and infrastructure, Animoca Brands has cemented its status as a key player in the industry. Its recent integration into the MultiversX ecosystem is anticipated to further enhance its influence and capabilities within the blockchain landscape.
MultiversX and Staking V4
MultiversX has recently completed a successful community discussion and governance vote, resulting in the implementation of its fourth phase of staking, known as Staking V4. This upgrade has significantly improved the network’s Nakamoto Coefficient by 50%, representing a notable advancement in its proof-of-stake economy, which is now the second largest globally.
The enhancements allow new validators to join the network and enable existing ones to expand their operations based solely on the amount of EGLD staked. This removes the previous queue-based system that required waiting for other validators to exit, making the process more efficient.
Strategic Partnership for Web3 Adoption
Animoca Brands has already taken advantage of these improvements, with its staking pool exceeding 100,000 EGLD. This development enhances the company’s ability to offer staking services on the MultiversX platform, contributing to the overall growth and efficiency of the network. The integration of Animoca Brands as a validator is viewed as a strategic move to promote Web3 adoption, particularly in the gaming and entertainment sectors.
Yat Siu, co-founder and executive chairman of Animoca Brands, expressed excitement about the partnership. He indicated that the collaboration aims to transform the gaming industry’s landscape and accelerate the adoption of Web3 technologies.
Driving Innovations in the Blockchain Space
By merging Animoca Brands’ industry leadership with MultiversX’s scalable network and sovereign chain infrastructure, both entities are positioned to drive significant advancements in the Web3 space. This partnership reflects a broader trend of established companies recognizing the transformative potential of blockchain technology in traditional industries.
Beniamin Mincu, CEO of the MultiversX Foundation, emphasized the importance of MultiversX’s contributions to the blockchain ecosystem. He highlighted the unique on-chain two-factor authentication mechanism and the implications of native assets for consumer applications built on-chain.
Nurturing Startups through xLaunchpad
In addition to its role as a validator, Animoca Brands is dedicated to nurturing startups that align with its vision through xLaunchpad, a selective Web3 accelerator with a mere 0.5% acceptance rate. This initiative aims to support innovative projects in the blockchain space, providing them with the necessary resources and guidance to thrive.
Startups incubated on xLaunchpad will have the opportunity to seek support from Animoca Brands, reinforcing the company’s commitment to fostering growth in the Web3 ecosystem. The strategic partnership between Animoca Brands and MultiversX not only enhances the capabilities of both entities but also signifies a growing recognition of the importance of collaboration in the blockchain industry.
The Future of Gaming and Digital Collectibles
As more companies aim to leverage the benefits of decentralized technologies, the integration of established players like Animoca Brands into networks like MultiversX is likely to pave the way for new innovations and applications in the digital economy. This collaboration represents a significant step forward in the ongoing evolution of the blockchain landscape.
Both companies are working together to empower users and drive the adoption of Web3 technologies across various sectors. The future of gaming, digital collectibles, and decentralized applications appears promising as these industry leaders join forces to explore new possibilities and redefine the boundaries of what can be achieved in the blockchain space.
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