Animoca Brands and Binance Smart Chain today announced a new strategic partnership.
Through this partnership, Animoca Brands will expand the tokenization of its gaming assets using Binance Smart Chain itself as the preferred blockchain infrastructure.
Animoca Brands is a leading blockchain-based digital entertainment company focused on gamification and artificial intelligence technologies.
The company’s games include The Sandbox, Crazy Kings and Crazy Defense Heroes, as well as products using popular intellectual properties such as Formula 1®, Marvel, WWE, Garfield, Snoopy, Power Rangers, MotoGP™, Formula E and Doraemon.
The company is based in Hong Kong, and has offices in the US, South Korea, Finland, Argentina and the Czech Republic, and to date has amassed a portfolio of partnerships and investments that includes Lucid Sight, Dapper Labs (the creators of CryptoKitties), WAX, Harmony and Decentraland.
In contrast, Binance Smart Chain is a smart contract blockchain that offers Ethereum Virtual Machine (EVM)-compatible programmability, designed to run in parallel with Binance Chain to maintain fast execution times and low transaction fees.
It was developed by Binance, along with its community, and will also advise Animoca on adapting to the blockchain market.
In addition, the two entities will also explore innovative approaches and new use cases for tokenization of virtual assets.
The partnership between Animoca Brands and Binance Smart Chain
The goal of the partnership is to achieve significant adoption of blockchain technology and tokenization strategies in the broader entertainment industry, including gaming and eSports, and to bring more mainstream users into the crypto sector.
Animoca Brands president and co-founder Yat Siu said:
“We are incredibly excited to partner with the world’s most influential exchange and to deliver our projects on the Binance Smart Chain. We believe that we are on the cusp of a significant shift in the fundamentals of gaming and we deeply appreciate collaborating with partners who share our vision of gamer empowerment by enabling characteristics previously unavailable in games such as play-to-earn and property rights”.
Binance’s VP M&A, Ling Zhang, added:
“Animoca Brands is one of the pioneers from the gaming industry that has made meaningful and constructive progress in the crypto space. Through a strategic partnership with Animoca Brands, we aim to bring in more mainstream users by onboarding more high quality gaming applications on Binance Smart Chain as well as innovate the integration between blockchain technology and traditional gaming assets”.