Animoca Brands Partnered With Hi Aims to Invest $30 Million

Animoca Brand recently announced its plans to invest in a well-known crypto application, Hi. The gaming software and venture capital company has signed a MoU with the Hong Kong-based Hi.

Animoca Brands will invest approximately $30 Million in Hi, a user interface providing crypto exchange and mobile banking. Most recently, the application has introduced a Master debit card for new users that are signing up.

Users can use this Mastercard to make crypto payments and customize their cards with NFT avatars. However, both are Web3 companies and plan to develop a “unique- human authentication mechanism” utilizing the proof-of-human identity mechanism developed by Hi.

Following the collaboration with the Hi application, the co-founder and executive chairman of Animoca Brands said, “Will partner with Hi on its constant development of Hi application and Hi protocol to drive positive impact for the wide Web3 ecosystem.”

As per Crunchbase data, Animoca Brands has raised $806.3 Million in 25 funding rounds, and its major financial backers are Kingsway Capital, Dragonfly Capital, Summer Capital, Token Bay Capital, Liberty City Ventures, GGV Capital, True Global Ventures and Temasek and numerous others.

Animoca Brands has acquired approximately 24 companies till date, including Pixelynx, TinyTap, Notre Game, WEPLAY.MEDIA, Eden Games, Grease Monkey, Bondly and Blowfish Studios among others.

The company has invested in more than 220 companies, including GET Protocol, SuperSight, Mythical Games, Redbeard Ventures, TreasureLand, Artizen, Particle Network, LandVault and GoJoe to name a few.

Red Beard is a Web3 venture capital firm. Red Beard recently raised $25 Million from established names in the industry.

REVV Token Price and its Association With Animoca Brands

REVV is a utility token which is mainly used as an in-game currency in a blockchain-based motorsport game developed by Animoca Brands. As per data from CoinMarketCap, at press time, REVV was trading at $0.009054 with an intraday trading volume of $1,136,400.

REVV price surged over 15% in the monthly time frame, and in the 24-hour trading session, its trading volume rose around 42.19%. The token is the 629th most traded token in terms of trading volume.

Animoca Brands Corporation Ltd. is a Venture Capital Company founded in 2014 by Yat Siu and David Kim. Initially, the company focused on developing mobile games but eventually shifted to Blockchain gaming and NFTs a few years back.

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.

Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing