In an effort to accelerate blockchain adoption, Animoca Brands has officially joined the MultiversX ecosystem as both a validator and an ecosystem contributor. This strategic move is designed to capitalize on the strengths of Animoca Brands’ extensive investment portfolio while integrating with the MultiversX blockchain network and its development tools, including Sovereign Chains.
Originally established as a mobile game company in 2014, Animoca Brands transitioned into the Web3 space in 2018, positioning itself as a key investor in blockchain technology. Headquartered in Hong Kong, the company has made more than 540 investments in blockchain-related ventures, with a primary focus on gaming, digital collectibles, open-world experiences, and infrastructure. Among its notable early investments are leading platforms such as OpenSea, Decentraland, and The Sandbox.
Strengthening the MultiversX Ecosystem
This collaboration follows the successful launch of MultiversX’s fourth phase staking upgrade, known as Staking V4. The upgrade has led to a 50% enhancement in the network’s Nakamoto Coefficient, facilitating the entry of new validators based on their staked EGLD, thereby eliminating the former queue-based system. Animoca Brands has swiftly taken advantage of these changes, accumulating a staking pool that surpasses 100,000 EGLD.
Leadership at Animoca Brands has emphasized the significance of this alliance, viewing it as an opportunity to redefine the gaming industry, empower users, and drive Web3 adoption. Similarly, the MultiversX Foundation has underscored the collaboration’s potential in advancing blockchain integration within gaming and digital entertainment.
Supporting Emerging Web3 Startups
Furthering its commitment to Web3 development, Animoca Brands plans to extend support to startups aligned with its vision, particularly those incubated through xLaunchpad, a curated accelerator program for Web3 innovation. This initiative highlights the company’s dedication to fostering technological advancements in digital entertainment and gamified experiences.
By strengthening its presence within the MultiversX ecosystem, Animoca Brands continues to solidify its role as a leader in blockchain investment and Web3 innovation, setting the stage for broader adoption of decentralized technologies in gaming and beyond.
