.animocabrands is investing $30 million in hi_com_official to boost the utility of fungible tokens and NFTs across Web3. camgthompson reports
According to a press release, the partnership will create “deep integration” between Animoca Brands' expansive network and hi’s services, anchored by hi’s Web3 financial “super app” and its layer 2 Ethereum sidechain hi Protocol.
Co-founder Sean Rach told CoinDesk that hi operates as a neobank, or a digital-only application that provides banking services, allowing users to transact in crypto or fiat. In 2022,Rach told CoinDesk that hi plans to use the funding to scale its app, as well as gear up for the mainnet launch of its Ethereum Virtual Machine compatible hi Protocol.
“All of Animoca Brands’ partner companies and ecosystem companies have access to millions of people, so that's an opportunity for us to provide our services there,” he said. “For [Animoca Brands], they get utility for their tokens and the ability for them to be spendable.” Rach added that the majority of hi’s user base exists in Europe, though they’re planning to expand into Asia, Latin America and eventually the U.S. – on the condition of regulatory clarity.
While some protocols allow bots to register addresses and conduct trades, hi is working on implementing a Proof of Human Identity into its know your customer (
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