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Animoca Brands teams up with Blockpass for enhanced web3 security

source-logo  crypto.news 15 March 2024 10:59, UTC

Blockpass and Animoca Brands, two prominent names in the web3 and digital property rights sectors, have entered into a partnership aimed at enhancing security and compliance within the web3 environment.

The agreement signals a deeper collaboration between Blockpass, poised to augment identity verification processes, and Animoca Brands, a Hong Kong-based game software company and venture capital company co-founded in 2014 by Yat Siu and David Kim.

The partnership focuses on leveraging Blockpass’s KYC/AML software to ensure a secure and user-friendly experience in the rapidly evolving web3 and metaverse arenas.

The collaboration between Blockpass and Animoca Brands is designed to tackle the increasing concerns of AI deepfakes and identity theft, ensuring a safer online space for users. It also aims to address the growing demands for compliance with KYC and AML regulations in the crypto space, thereby enabling Animoca Brands and its portfolio companies to navigate the regulatory landscape with greater confidence.

Another key aspect of this partnership is the improvement of user onboarding processes through Blockpass’s provision of a reusable digital identity, which simplifies access to various web3 services.

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Animoca Brands, known for its extensive portfolio of blockchain-based games and collaborations with several high-profile brands such as MotoGP, Marvel, and Formula 1, is a pioneer in advocating for digital property rights and the establishment of play-to-earn economies. The collaboration with Blockpass, a company celebrated for its advancements in identity verification and compliance solutions, underscores a shared vision for a more secure and equitable digital environment.

“One of Animoca Brands’ core philosophies has always been to support and empower mission-aligned builders who believe in the vision of Web3 and the open metaverse to usher in digital property rights for all…This strategic partnership will enable Blockpass to tap into the potential of Animoca Brands’ ecosystem while enhancing our user verification process.”

Yat Siu, co-founder and executive chairman of Animoca Brands

This partnership announcement follows a series of strategic expansions by Animoca Brands in the blockchain and gaming sectors. The company had previously engaged Blockpass for NFT event verification services and ventured into the development of the first metaverse token on the Bitcoin network with Darewise Entertainment and Horizen Labs.

Additionally, Animoca Brands recently invested in Param Labs, aiming to further develop scalable web3 infrastructure and expand its ecosystem, which includes partnerships with over 50 intellectual properties.

Read more: Staying safe in web3: your guide to dapps security