Animoca Brands Corporation Ltd has opted into the Celo blockchain system, a carbon-negative, mobile-first Ethereum virtual machine (EVM) compatible ecosystem.
The partnership will allow Animoca Brands to expand Web3 gaming on Celo’s platform, which currently supports more than 1,000 projects in 150 countries.
Celo aims to provide mobile access to in excess of 6.4 billion users worldwide, with easy-to-use wallets, mobile payments and local stable assets for transaction fees.
Since launching in 2020, Celo has processed more than 240 million transactions with a market cap of $350 million and offset 4,104 tonnes of carbon dioxide equivalent.
Promoting Web3 communities
Animoca Brands co-founder and executive chair Yat Sui expressed his excitement about the partnership: "We are thrilled to join the Celo ecosystem, which is deeply committed to the adoption of Web3.
“We look forward to collaborating with the Celo Foundation on new initiatives that can bring about positive change."
Animoca Brands will participate in the Celo ecosystem as follows:
- Joining the Alliance for Prosperity: Animoca Brands will be the first entertainment company among over 100 members committed to promoting blockchain technology through financial inclusion, project development and local and regional blockchain education campaigns.
- Becoming a validator on Celo network: Animoca Brands will help maintain the security of the network, joining other validators such as Deutsche Telekom (ETR:DTEGn) and Coinbase (NASDAQ:COIN) Ventures among various others.
“The Celo ecosystem, known for mobile and impact, welcomes Animoca Brands, which has done so much for onboarding people to Web3 as a respected industry leader known for its pioneering projects in digital entertainment and gaming,” Celo co-founder and president of the Celo Foundation Rene Reinsberg said.
“Animoca Brands’ mission to drive more equitable digital frameworks aligns well with Celo’s mission of creating the conditions for prosperity for all. With our combined communities, we hope to onboard the next billion users into Web3.”