• Animoca Brands partners with Hi to invest $30 million in the neobank platform
• Hi offers cryptocurrency exchange services, conventional digital banking and NFT-styled debit cards
• Hi’s proof of human identity solution provides a “unique-human authentication mechanism”
Animoca Brands Partners With Hi to Invest $30 Million
Animoca Brands has announced that it will partner with Hi, a Web3 neobanking app, to invest $30 million into the platform. The app features cryptocurrency exchange services, conventional digital banking and customized NFT-styled debit cards.
Unique Human Authentication Mechanism
As part of the agreement, Animoca Brands and Hi plan to drive the adoption of a “unique-human authentication mechanism” through the Hi protocol’s proof of human identity solution. This addresses shortcomings of the Web2 era where companies had control over user data and identity by using a dual-node structure where one set of nodes serves as identity validators responsible for verifying accounts owned by humans while block producers secure the network.
NFT Debit Card Offering
Hi’s flagship crypto-friendly Mastercard debit card allows users to personalize their physical cards with an NFT avatar they own. This provides an example of how Web3 can allow users to express themselves and individualize their experiences in new ways. Furthermore, this partnership also amplifies the utility of various Web3 tokens and NFTs.
Yat Siu on Potential For Personalization
Animoca Brands co-founder and executive chairman Yat Siu sees significant potential in the personalization of Web3-based services as his firm earmarks $30 million for the neobank platform Hi. He said: “It is an example of the ongoing shift toward personalization, where Web3 finally allows users the opportunity to express themselves and their individuality in new and exciting ways.”
Partnership Aims To Exceed Expectations
The two companies aim to exceed expectations with this partnership which will combine all aspects from finance, technology, gaming, blockchain into one product offering many different use cases for consumers around world.