HashKey Exchange and Animoca Brands Unite to Boost Web3 in Asia

Hong Kong-based HashKey Exchange, a licensed virtual asset exchange, has entered a strategic partnership with Animoca Brands, a pioneer in digital property rights and gaming for the metaverse, according to Press Release shared with Blockchain.News by HashKey. This collaboration, announced on January 23, 2024, represents a significant step forward in the evolution of the Web3 and digital entertainment ecosystem in Asia.

HashKey Exchange, part of HashKey Group, aims to be a foundational player in the Asian Web3 digital entertainment landscape, contributing to network security and operational efficiency. The exchange has recently made headlines with its nearly $100 million Series A fundraising, propelling it to unicorn status with a valuation exceeding $1.2 billion. This financial milestone underscores the exchange's rising influence in the virtual asset sector and highlights its capacity for substantial industry impact.

On the other side, Animoca Brands is renowned for leveraging blockchain technology in digital gaming and the metaverse, asserting digital property rights for consumers globally. Its portfolio includes high-profile projects like The Sandbox (SAND), PHANTOM GALAXIES, and partnerships involving major intellectual properties. Animoca Brands' commitment to the open metaverse and its extensive involvement in the Web3 space make it a key player in the industry.

The Memorandum of Understanding (MoU) between these two entities outlines several cooperative initiatives. These include public education about Web3, potential listing of virtual assets on HashKey Exchange, and leveraging technologies like smart contracts and zero-knowledge proofs. This partnership also involves Animoca Brands opening an account with HashKey Exchange, emphasizing a joint dedication to compliant virtual asset trading.

Livio Weng, COO of HashKey Group and CEO of HashKey Exchange, expressed enthusiasm about partnering with Animoca Brands, recognizing the collaboration as a commitment to innovative offerings for users and a catalyst for the growth of digital entertainment. Similarly, Yat Siu, co-founder and executive chairman of Animoca Brands, emphasized the alignment of this partnership with their mission to democratize blockchain technology and digital ownership.

This strategic union marks a significant moment in the Web3 sphere, particularly in Asia. It represents a convergence of expertise in digital asset trading and blockchain-based digital entertainment, poised to influence the market significantly. By combining HashKey Exchange's robust platform and financial prowess with Animoca Brands' innovative approach to digital rights and gaming, this partnership is set to catalyze the growth and evolution of the digital entertainment industry in the region.