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Animoca Reveals Partnership With Hedera

Animoca recently unveiled it has partnered with Hedera Hashgraphs. It is being reported that the organizations will work together on two gaming projects that will be distributed through Hedera’s publicly distributed ledger. Also, Helix Accelerator, which was recently acquired by Animoca, will begin providing Hedera Hashgraphs with investment guidance and insights.

“We are very excited to work with Hedera Hashgraph, which offers some highly appealing uses for gaming, particularly in the area of high-transaction scenarios,” said Animoca Brands co-founder Yat Siu. “We believe this partnership will result in more efficient validation of play-to-earn activities, including addressing issues such as the multi-billion dollar problem of cheating in games.”

The first project is a game that focuses on the trading of non-fungible tokens (NFTs) for football clubs that have licensing deals with Animoca. NFT owners will be able to “sell” their tokens for a fixed amount of HBAR, the cryptocurrency used in the Hedera network. This signifies the first time commercial NFTs will be redeemed for a guaranteed amount of cryptocurrency assets.

The other project has been entitled Helix Wrap. This online gaming platform aims to create hacker-proof leaderboards for video game developers.

The Profit‘s Take:

All of the blockchain (crypto, NFT, etc) x gaming announcements are starting to feel the same. None are actually focused on making games that are fun. Most of these will fail miserably.

(All information was provided by Ledger Insights)

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