Business News Report
June 21, 2023

Animoca Brands Joins Celo Ecosystem to Scale Web3 Gaming with Sustainability and Social Impact

In Brief

Animoca Brands has joined the Celo ecosystem to scale Web3 gaming on Celo’s mobile-first infrastructure.

Celo is a carbon-negative blockchain ecosystem that has already offset 4,104 tons of tCO2-eq at the protocol layer since its mainnet launched on Earth Day 2020.

Animoca Brands will join Deutsche Telekom, Coinbase Ventures, a16z, and others in running a validator on Celo to support the network’s security.

Animoca Brands Joins Celo Ecosystem to Scale Web3 Gaming with Sustainability and Social Impact

Animoca Brands today announced that it has joined the Celo ecosystem to scale web3 gaming on its mobile-first infrastructure.

Celo is a carbon-negative blockchain ecosystem of more than 1,000 projects in over 150 countries that drives social impact and climate action. Since its mainnet launch on Earth Day 2020, Celot has facilitated more than 240 million transactions and achieved a market capitalization of $350 million. At the protocol layer, Celo has successfully offset 4,104 tons of tCO2-eq.

Celo’s platform prioritizes mobile accessibility, providing user-friendly native wallets and dApps that ensure frictionless mobile payments. It offers fast syncing capabilities with the peer-to-peer network and allows users to pay transaction fees using local stable assets.

By joining the Celo ecosystem, Animoca Brands will be the first entertainment and gaming steward among Celo’s over 100 members committed to the mainstream adoption of blockchain technology via financial inclusion, innovative project development efforts, and local and regional blockchain education campaigns.

In addition, Animoca Brands will join Deutsche Telekom, Coinbase Ventures, a16z, and others in running a validator on Celo to support the network’s security. Animoca Brands and the Celo Foundation are also in discussion to partner on strategic initiatives and explore new deployments and integrations that drive social impact and climate action.

Yat Siu, co-founder and executive chairman of Animoca Brands, said: “We are thrilled to participate in the Celo ecosystem, which has been deeply committed to last-mile solutions and real-world adoption of Web3 in a truly global manner. We also look forward to collaborating with the Celo Foundation on new ideas that can drive positive impact and change in the world in a collective effort to build trust in blockchain technology.”

“The Celo ecosystem, known for mobile and impact, welcomes Animoca Brands, which has done so much for onboarding people to Web3 as a respected industry leader known for its pioneering projects in digital entertainment and gaming. Animoca Brands’ mission to drive more equitable digital frameworks aligns well with Celo’s mission of creating the conditions for prosperity for all. With our combined communities, we hope to onboard the next billion users into Web3,” says Rene Reinsberg, Celo co-founder and president of the Celo Foundation.

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Disclaimer

In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.

About The Author

Cindy is a journalist at Metaverse Post, covering topics related to web3, NFT, metaverse and AI, with a focus on interviews with Web3 industry players. She has spoken to over 30 C-level execs and counting, bringing their valuable insights to readers. Originally from Singapore, Cindy is now based in Tbilisi, Georgia. She holds a Bachelor's degree in Communications & Media Studies from the University of South Australia and has a decade of experience in journalism and writing. Get in touch with her via [email protected] with press pitches, announcements and interview opportunities.

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Cindy Tan
Cindy Tan

Cindy is a journalist at Metaverse Post, covering topics related to web3, NFT, metaverse and AI, with a focus on interviews with Web3 industry players. She has spoken to over 30 C-level execs and counting, bringing their valuable insights to readers. Originally from Singapore, Cindy is now based in Tbilisi, Georgia. She holds a Bachelor's degree in Communications & Media Studies from the University of South Australia and has a decade of experience in journalism and writing. Get in touch with her via [email protected] with press pitches, announcements and interview opportunities.

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