MultiversX announced that Animoca Brands has joined the MultiversX ecosystem as a validator and ecosystem contributor to leverage synergies between Animoca Brands, its more than 540 portfolio companies, and MultiversX blockchain’s network alongside development tools such as Sovereign Chains.
Starting as a mobile game company in 2014 and pivoting to Web3 in 2018 when the first tokenization rails were pioneered, today Animoca Brands is one of the most prolific active investors and builders in the industry.
Based in Hong Kong, with various offices and subsidiaries worldwide, Animoca Brands was an early backer of OpenSea, Decentraland, and The Sandbox, acquiring the latter in 2018. Its investment portfolio totals over 540 investments in blockchain-related projects, primarily focused on gaming, digital collectibles, open worlds, and infrastructure.
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MultiversX has recently concluded a successful community discussion, governance vote, and implementation for its phase four of staking (Staking V4). With over 3,300 validator nodes and standing as the second largest PoS economy, the Staking V4 upgrade has already improved the network’s Nakamoto Coefficient by 50%. With the deployed changes, new validators can join the network and existing ones can grow based entirely on their amount of EGLD staked without needing to wait for other validator nodes to leave, as was the case in the previous queue-based system.
Animoca Brands is an example of a validator for whom Staking V4 has made it more attractive and easier to start offering staking services on MultiversX; its staking pool has already reached over 100,000 EGLD.
Yat Siu, co-founder and executive chairman of Animoca Brands, commented: “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. By combining Animoca Brands’ industry leadership and MultiversX’s horizontally scalable network and sovereign chain infrastructure, we look forward to advancing development in the Web3 industry.”
Beniamin Mincu, CEO of MultiversX Foundation, commented: “MultiversX brings important contributions to the space. Whether we are talking about the unique on-chain 2FA mechanism or the native assets which offer deep ownership implications, they are essential for the upcoming wave of consumer apps built on-chain. It’s great to have Animoca Brands joining the ecosystem as a validator and exploring these feats to boost Web3 adoption in gaming and entertainment.”
Furthermore, standout startups that align with Animoca Brands’ vision and are incubated on xLaunchpad – a highly selective Web3 accelerator with an acceptance rate of 0.5% – will be eligible to apply for support from the leader in digital entertainment and gamified experiences.
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