Quick take:
- Animoca Brands has teamed up with CyberConnect to build a decentralised layer for Mocaverse.
- CyberConnect’s smart account infrastructure CyberAccount will power the identity layer of Mocaverse.
- Mocaverse NFT holders will have the opportunity to create interoperable social gaming experiences for their communities.
Animoca Brands and CyberConnect, the world’s earliest and biggest social network built on the blockchain have teamed up to develop a decentralised social layer for Mocaverse. Mocaverse is Animoca Brands’ NFT collection, created to connect the web3 investment company’s portfolio companies.
CyberConnect recently upgraded to v3, introducing CyberAccount, a scalable and battle-tested ERC-4337-powered smart account. Since its introduction in July 2023, “CyberAccount has become an industry leader in ERC-4337 account abstraction, deploying over 90% of all smart accounts (smart contract wallets) created to date,” Animoca Brands wrote in a statement on Tuesday.
The two companies are creating a new industry model that will help brands easily transition to web3. Brands will be able to build applications and products that empower users to travel across their favourite applications without recreating their networks.
According to the announcement, CyberAccount enables developers to build applications that allow users to access various games and services from Animoca Brands and its portfolio companies with an all-in-one smart account.
Animoca Brands plans to roll out support for CyberAccount in the coming months, which will allow users to bring friends, fans, followers, and connections with them to their favourite applications.
This is part of Animoca Brands’ strategy for accelerating web3 adoption. Last month, the company invested $30 million in the Hong Kong-based crypto exchange and banking super app Hi.
Earlier this year the web3 investment company also said it is raising $1 billion for a new venture fund focused on metaverse startups.
In March, Animoca Brands co-founder and executive chairman told NFTgators that blockchain gaming will be the gateway to the mass adoption of users to web3. “We believe that gaming will onboard the first 1 billion users to web3,” he said.
With the integration of CyberAccount with Mocaverse, Animoca Brands’ portfolio companies will have the opportunity to onboard more users to their platforms.
“With a social graph deeply integrated with users’ CyberAccount, developers can bootstrap their decentralized applications, significantly reducing the time to bring their product to market and reach previously unexplored user bases. Animoca Brands aims to increase adoption with this ‘super account’ approach and empower developers with a first-of-its-kind user onboarding solution,” reads a statement describing the partnership.
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