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Animoca Brands has been formally accepted by MultiversX as a validator and ecosystem contributor, establishing a noteworthy collaboration between the blockchain network and the massive digital entertainment company. By leveraging its more than 540 portfolio firms, Animoca Brands is able to further integrate with MultiversX’s blockchain infrastructure and development tools, such as Sovereign Chains.
Animoca Brands, which was first established in 2014 as a mobile gaming company, moved to Web3 in 2018 and led the industry in tokenization. The business is now regarded as a top constructor and investor, having provided early support for significant initiatives including The Sandbox, Decentraland, and OpenSea.
Recently, Staking V4, an update that greatly increases validator participation, was successfully deployed by MultiversX. The network is currently the second-largest Proof-of-Stake (PoS) economy, with more than 3,300 validator nodes. With a 50% improvement in the Nakamoto Coefficient, the modification has increased network security and decentralization.
The elimination of the queue-based approach in Staking V4 is a significant enhancement that makes it possible for new validators to join with ease. Animoca Brands found it more appealing to engage in staking as a result of this modification, and its staking pool has now topped 100,000 EGLD.
Yat Siu, co-founder and executive chairman of Animoca Brands, emphasized the importance of this collaboration: “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. 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.”
Beniamin Mincu, CEO of MultiversX Foundation, highlighted the network’s unique blockchain features, including on-chain 2FA security and deep ownership mechanisms for digital assets. He stated: “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 incubated on xLaunchpad, a Web3 accelerator with a 0.5% acceptance rate, will have the opportunity to seek support from Animoca Brands. This initiative reinforces MultiversX’s mission to enhance blockchain adoption in gaming, digital collectibles, and metaverse infrastructure.