Animoca Brands, a company responsible for advancing digital property rights for gaming and the metaverse, has announced its partnership with Celo, a carbon-negative blockchain ecosystem.
By joining the Celo ecosystem, Animoca Brands aims to expand web3 gaming on Celo’s mobile-first infrastructure, with the intent to drive social impact and climate action through newer web3 tools.
Development underway
In a June 21 press release shared with crypto.news, Animoca Brands announced their partnership with Celo, a platform focused on mobile accessibility, catering to a broad user base of over 6.4 billion mobile phone users worldwide.
Having already facilitated more than 240 million transactions and boasting a market cap of $350 million, Celo has made notable strides in offsetting carbon emissions, with 4,104 tons of tCO2-eq being offset at the protocol layer since its mainnet launch on Earth Day 2020.
“Animoca Brands is an industry leader driving the adoption of web3 gaming and education, and this new partnership represents continued momentum for the future of ReFi (regenerative finance). Animoca Brand’s shared commitment to promoting sustainable and accessible technology through financial inclusion, the potential development of new projects on Celo’s mobile-first platform, and educational campaigns around gaming and sustainability supports ecosystem engagement. All of this is crucial to raising awareness and understanding for real-world use cases of blockchain technology and how it can positively impact everyday lives.”
Rene Reinsberg, Celo co-founder and foundation president.
As part of its collaboration with the Celo ecosystem, Animoca Brands is also set to make contributions in areas including the adoption of blockchain technology through financial inclusion, innovative project development, and educational campaigns focused on blockchain at local and regional levels.
Additionally, Animoca Brands will enhance the security of the Celo network by running a validator, joining renowned entities like Deutsche Telekom, Coinbase Ventures, and a16z in this critical role.
Furthermore, Animoca Brands and the Celo Foundation are engaged in discussions to establish strategic initiatives, explore new deployments, and facilitate integrations that prioritize social impact and climate action.
Web3 developments continue
Despite back and forth between the SEC, Binance and Coinbase in the United States, several positive news developments suggest web3 is not dead.
On June 20, Accenture, a global professional services company, invested in Parafin, a web3 Infrastructure services provider, and earlier on June 21, Ticketmaster received patent approval to continue their exploration into the next generation of the Internet.
Although it is too early to say what the results will be in adoption, it is worth noting that a number of big players are still taking web3 development seriously.
