HashKey Exchange and Animoca Brands Unite to Boost Web3 in Asia

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Hong Kong-based HashKey Exchange, a licensed virtual asset exchange, has entered into a strategic partnership with Animoca Brands, a pioneer in digital property rights and metauniverse gaming, according to a press release shared with Blockchain.News by HashKey. This collaboration, announced on January 23, 2024, represents a significant step forward in the evolution of Web3 and the digital entertainment ecosystem in Asia.

HashKey Exchange, part of the HashKey Group, aims to be a major player in the Asian Web3 digital entertainment landscape, contributing to network security and operational efficiency. The exchange recently made waves with its Series A fundraising of nearly $100 million, elevating it to unicorn status with a valuation of more than $1.2 billion. This financial milestone underscores the exchange’s growing influence in the virtual asset sector and underscores its capacity to significantly impact the industry.

On the other hand, Animoca Brands is known for its use of blockchain technology in digital gaming and the metaverse, asserting digital property rights for consumers worldwide. Its portfolio includes high-profile projects such as The Sandbox (SAND), PHANTOM GALAXIES and partnerships involving major intellectual rights. Animoca Brands’ commitment to the open metaverse and its extensive involvement in the Web3 space make it a key player in the industry.

The Memorandum of Understanding (MOU) between these two entities outlines several cooperative initiatives. These include public education about Web3, the potential listing of virtual assets on the HashKey Exchange, and the use of technologies such as smart contracts and zero-knowledge proofs. This partnership also includes Animoca Brands opening an account on the HashKey Exchange, highlighting a joint commitment to compatible virtual asset trading.

Livio Weng, COO of HashKey Group and CEO of HashKey Exchange, expressed enthusiasm about the partnership with Animoca Brands, recognizing the collaboration as a commitment to innovative consumer offerings and a catalyst for the growth of digital entertainment. Similarly, Yat Siu, co-founder and executive chairman of Animoca Brands, highlighted the alignment of this partnership with their mission to democratize blockchain technology and digital ownership.

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This strategic alliance marks an important moment in the Web3 sphere, especially in Asia. It represents a convergence of expertise in digital asset trading and blockchain-based digital entertainment that is poised to significantly impact the market. By combining HashKey Exchange’s robust platform and financial strength with Animoca Brands’ innovative approach to digital rights and gaming, this partnership is set to catalyze the growth and evolution of the digital entertainment industry in the region.

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