Web3 News

Animoca Brands Corporation Ltd has recently formed a strategic partnership with Blockpass, a reputable provider of identity verification solutions for the Web3 space.

The main objective of the collaboration is to create a more compliant and secure environment for Web3 users. As part of the partnership, Animoca Brands and some of its portfolio companies will use Blockpass’ KYC/AML SaaS to provide seamless and cost-effective solutions for user verification.

This move will ensure more robust regulatory compliance and a safer, user-friendly experience for users of the Web3 and metaverse landscapes. It’s worth noting that Animoca Brands has been a Blockpass customer for a long time, and both companies are committed to enhancing user safety and security through this partnership.

In today’s world, where AI deep fakes and identity fraud are on the rise, Blockpass’s identity verification solutions have become essential to mitigate fraud risks and ensure users’ safety within the Animoca Brands ecosystem.

This partnership will also help meet the regulatory requirements of the growing crypto industry. As the crypto landscape evolves, adhering to KYC and AML regulations is crucial. By partnering with Blockpass, Animoca Brands and its participating companies can operate more confidently, knowing they comply with the regulations. Moreover, the partnership will enable them to streamline user onboarding with reusable identities.

Blockpass provides a user-friendly verification process for a seamless and efficient onboarding experience. With Blockpass, users can create, store, and manage a secure digital identity, making accessing Web3 services and other regulated sectors easier.

According to Animoca Brands co-founder and executive chairman Yat Siu, the company’s fundamental philosophy is to support and empower builders who share their vision of Web3 and the open metaverse. Animoca Brands believes in digital property rights for all and works to make this vision a reality.

“We work with Blockpass not only for the breadth of its offerings but also because Adam and his colleagues are highly committed to the vision of data sovereignty and true digital ownership. This strategic partnership will enable Blockpass to tap into the potential of Animoca Brands’ ecosystem while enhancing our user verification process.”

The collaboration between Blockpass and Animoca Brands is a crucial step forward in developing Web3 and the open metaverse. By emphasizing user safety, regulatory adherence, and user experience, the two companies lead the charge toward a more secure and equitable future for the decentralized realm.

Animoca Brands Corporation Ltd has signed a Memorandum of Understanding (MoU) with King Abdulaziz City for Science and Technology (KACST) to advance the Web3 and gaming landscape in Saudi Arabia.

As an independent governmental entity, KACST is responsible for advancing science and technology and facilitating collaboration among various scientific institutions in Saudi Arabia.

Through this partnership, Animoca Brands and KACST aim to strategically drive the progress of the Web3 ecosystem and gaming industry in Saudi Arabia. This includes setting up a physical Web3 Hub in Riyadh to incubate the region’s Web3 startups and blockchain technologies.

This project goes beyond physical infrastructure to support Saudi Arabia’s socio-economic growth by promoting local talent through education, training, and employment initiatives.

Yat Siu, co-founder and executive chairman of Animoca Brands, said the company’s partnership with KACST to establish the Web3 Hub and develop the Web3 and gaming ecosystem in Saudi Arabia is a crucial step for the region. This collaboration aligns with Animoca Brands’ goal of advancing adoption and development in the Web3 space.

The Web3 Hub and the collaboration will involve mutual research in Web3, blockchain, gaming, AI, and the metaverse. Additionally, they plan to form strategic partnerships with local universities to provide customized educational programs.

Animoca Brands will offer consultancy services in tokenomics and Web3 economics to companies and projects in Saudi Arabia. Additionally, both companies will collaborate on developing immersive experience labs to showcase the latest gaming, technology, and digital innovation.

As part of the partnership, KACST will provide office space to support the physical infrastructure needs of startups working within the Web3 and gaming ecosystem. Meanwhile, Animoca Brands will leverage its expertise in the Web3 industry to provide support and guidance in this domain.

KACST VP of Economies of the Future Mariam Nouh said: “We are excited to join forces with Animoca Brands in building national capabilities for gaming, immersive experiences, and Web3 technologies. We seek to transform blockchain and digital innovation development by establishing the Web3 Hub and growing the Web3 ecosystem in Saudi Arabia.”

A group of alumni from the Massachusetts Institute of Technology and Harvard have created a startup accelerator to support early-stage web3 founders associated with either institution.

The accelerator is called the MIT x Harvard Blockchain Accelerator and is a non-dilutive program. This means it will not invest in any of the startups it accepts.

Instead, the accelerator will focus on providing pure mentorship to help these startups thrive. The accelerator has four core contributors: Sam Lehman, Luke Xie, and Hannah Shen from MIT, and Liang Wu from Harvard.

Members are leading the accelerator from Cornell University and the Technion-Israel Institute of Technology. Its founding mentors include Tieshun Roquerre, also known as “Pacman,” the founder of NFT marketplace Blur and Ethereum Layer 2 Blast; Keone Hon and Eunice Giarta, co-founders of Layer 1 blockchain developer Monad Labs; Kenny Li, co-founder of Layer 2 network Manta; and Mirza Uddin, head of business development at Injective Labs, the maker of a Cosmos-based Layer 1 blockchain network.

Additionally, some unidentified members from crypto firms, including a16z, Avalanche, Dragonfly, Galaxy Digital, Nascent, and Polygon, are also serving as mentors for the accelerator. However, their names cannot be disclosed due to their firms’ policies, according to Lehman, the leader of the accelerator.

To be part of the accelerator, the founding teams of startups must have at least one member associated with either of the two institutions, including current students (undergraduate or graduate), alumni, faculty, researchers, and staff. Stanford University also operates a similar blockchain accelerator that has launched companies like Modulus Labs, Nocturne, Zero Gravity, and Caldera.

The accelerator’s first cohort program will begin next month and conclude in June. Applications are currently being accepted and will be reviewed by the core contributors and leaders of the two institutions’ student clubs, who will then make the final decisions on which startups to accept into the cohort.

Telecom infrastructure company Nokia has predicted a surge in network demand in the coming years due to the emergence of Web3, the metaverse, and artificial intelligence (AI).

To meet this demand, Nokia plans to build a future network architecture by 2030. According to Nokia’s Technology Strategy 2030 report, the company expects an increase in network demand of around 22%-25% from 2022 through 2030.

Federico Guillén, Nokia’s President of Network Infrastructure, has attributed this rise to the recent introduction of generative AI and virtual reality devices into the mainstream. To meet the growing demand, Nokia plans to invest heavily in its network equipment and services portfolio in the coming years.

The company will cater to six ecosystems, one of which is the Internet of Value, focusing on decentralization, blockchain technology, and smart contracts. Nokia’s focus on the metaverse will be on human augmentation, spatial computing, and split processing.

Nokia has identified four remaining ecosystems that are important for future technological advancements. These include AI, Industry 5.0, the API economy, and the Cloud continuum. To stay ahead of the curve, Nokia established two labs in 2022 that focused on studying the metaverse and the underlying technologies that support it.

In 2023, the company experimented with several large-scale and industrial metaverse initiatives. Nokia has also developed a network architecture that relies on network digital twin technology. This technology involves creating a digital simulation of a physical object, which is commonly used for prototyping and testing in the manufacturing and construction industries.

In South Australia, Nokia has been exploring the use of the metaverse to potentially provide assistance to Cessna aircraft technicians working in remote airports.