Darius Baruo Feb 26, 2025 08:08
Animoca Brands has joined MultiversX as a validator, enhancing synergies with its vast portfolio and leveraging blockchain for creators, users, and businesses.
Animoca Brands Strengthens MultiversX Ecosystem
In a significant move to bolster blockchain adoption, Animoca Brands has joined the MultiversX ecosystem as a validator and ecosystem contributor, according to Animoca Brands. This collaboration aims to leverage synergies between Animoca Brands’ extensive portfolio and the MultiversX blockchain network, alongside its development tools like Sovereign Chains.
Animoca Brands’ Expansive Portfolio
Founded as a mobile game company in 2014, Animoca Brands pivoted to Web3 in 2018, establishing itself as a leading investor in the industry. The Hong Kong-based company boasts over 540 investments in blockchain-related projects, focusing primarily on gaming, digital collectibles, open worlds, and infrastructure. Notably, Animoca Brands was an early backer of prominent platforms such as OpenSea, Decentraland, and The Sandbox.
Impact of Staking V4 on MultiversX
The partnership comes on the heels of MultiversX’s successful implementation of its phase four staking upgrade, Staking V4. This upgrade has improved the network’s Nakamoto Coefficient by 50% and allows new validators to join the network based on their staked EGLD, eliminating the previous queue-based system. Animoca Brands has already capitalized on this opportunity, with its staking pool amassing over 100,000 EGLD.
Statements from Industry Leaders
Yat Siu, co-founder and executive chairman of Animoca Brands, expressed enthusiasm about the collaboration: “Animoca Brands is thrilled to be a validator and contributor for MultiversX. Together, we aim to redefine the gaming industry’s landscape, empower users, and accelerate the adoption of Web3.” Beniamin Mincu, CEO of MultiversX Foundation, echoed this sentiment, highlighting the potential for boosting Web3 adoption in gaming and entertainment.
Support for Innovative Startups
Furthermore, startups aligned with Animoca Brands’ vision, particularly those incubated on xLaunchpad, a selective Web3 accelerator, will be eligible for support. This initiative underscores Animoca Brands’ commitment to nurturing innovation in the digital entertainment and gamified experiences sector.
Image source: Shutterstock Read The Original Article on Blockchain.News
