Animoca Brands has invested a substantial $30 million into hi, a cutting-edge Web3 payments application and protocol.
In this exciting partnership, hi will empower NFTs across Animoca Brands’ portfolio companies and the broader Web3 ecosystem. Both entities announced their commitment to foster “deep integration” between hi’s comprehensive services and Animoca Brands’ extensive network.
Sean Rach, the co-founder of hi, stated about the investment:
“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.”
This integration centres around hi App and its Ethereum layer 2 sidechain, the hi Protocol. The app represents a cutting-edge financial super app tailored for Web3. The hiP is a layer-2 sidechain for Ethereum, compatible with the Ethereum Virtual Machine (EVM) and resilient against Sybil attacks.
Mastercard And hi Merge To Make History
In 2022, hi caused a sensation by revealing the world’s very first NFT avatar-customized debit card, which Mastercard powered. The groundbreaking initiative has attracted a staggering 3.5 million users, with 1 million having undergone KYC verification. The company plans to ship the first batch of these cards in Q3 2023.
Eligible cardholders will seize the exceptional opportunity to personally customize their debit cards with an NFT avatar that they officially own. Thus, it will expand users’ spending capabilities to include fiat and digital currencies at more than 90 million locations worldwide. This unique customization feature is set to benefit companies in Animoca Brands’ portfolio significantly.
What Is In It For Web3 Users?
Both companies operate in the Web3 domain. Therefore, they will create a platform to empower developers to build a “unique-human authentication mechanism” using hi App’s cutting-edge proof-of-human identity tools.
In a news statement, Yat Siu, the co-founder and executive chairman of Animoca, commented on the revolutionary Web3 partnership. He expressed the company’s commitment to collaborating with hi to advance hi’s app and protocol. Their joint efforts aim to foster a positive impact within the broader Web3 ecosystem.
About hi App
The app is an unparalleled crypto and fiat application known for its user-friendly interface and exceptional functionality. This extraordinary app seamlessly merges the capabilities of a cutting-edge crypto exchange with those of a state-of-the-art digital bank. It provides its users with a comprehensive platform for savings, investments, payments, and lifestyle perks.