Animoca Brands joins MultiversX as validator and ecosystem contributor
Last updated: 10:15 27 Feb 2025 AEDT, First published: 10:07 27 Feb 2025 AEDT
Animoca Brands Corporation Ltd has integrated into the MultiversX ecosystem as a validator and contributor, aiming to leverage synergies between its extensive portfolio of more than 540 companies and the MultiversX blockchain network.
The collaboration will also utilise development tools such as Sovereign Chains to enhance interoperability and scalability.
"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," Animoca Brands co-founder and executive chairman Yat Siu said.
"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."
MultiversX recently completed the governance vote and implementation of its fourth staking upgrade (Staking V4). With more than 3,300 validator nodes, the network now ranks as the second-largest proof-of-stake (PoS) ecosystem.
The upgrade has significantly enhanced decentralisation, improving the Nakamoto Coefficient by 50%. Under the new system, validators can join and expand their staking pools solely based on their EGLD stake, eliminating the previous queue-based entry model.
The enhancements introduced by Staking V4 have facilitated Animoca Brands' entry as a validator, making staking services on MultiversX more accessible. The company’s staking pool has already exceeded 100,000 EGLD, highlighting strong early adoption.
"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," MultiversX Foundation CEO Beniamin Mincu said.
"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."
Additionally, startups that align with Animoca Brands' vision and are incubated through xLaunchpad — a highly selective Web3 accelerator with a 0.5% acceptance rate — will have the opportunity to apply for support from the digital entertainment and gamification leader.
About Animoca
Founded as a mobile gaming company in 2014, Animoca Brands transitioned to Web3 in 2018, becoming a key player in blockchain-based gaming, digital collectibles and metaverse projects.
Headquartered in Hong Kong, the company was an early investor in OpenSea, Decentraland and The Sandbox, which it acquired in 2018. Its investment portfolio spans a broad range of blockchain initiatives focused on gaming infrastructure and digital assets.
