Animoca Brands has announced that it has entered into an agreement with Hedera Hashgraph through the acquisition of Helix Accelerator. The agreement stipulates the development of two distributed ledger-based gaming projects.
NFT Based Football Game
The trio of Animoca Brands, Hedera Hashgraph, and Helix will jointly develop an NFT based football game. The game will seek to utilize the intellectual properties of football clubs that are under license to Animoca Brands. Additionally, Tradable NFTs on the game will be backed by the native currency of the Hedera Network, HBAR.
All NFTs backed by HBAR will be redeemable for HBAR post a cooldown period. This is the first time that an NFT will be redeemable for a guaranteed amount of an underlying crypto asset.
Animoca Brands, Hedera Hashgraph, and Helix will also jointly develop Helix Warp. Helix Warp is an independent, distributed online gaming platform. The collaboration hopes to create an ecosystem of gaming-related services and products that is decentralized and fair. A decentralized and fair ecosystem will go a long way in addressing the scourge of cheating in multiplayer games online.
Helix Warp creates a server-side simulation environment while leveraging the Hedera Consensus Service to record game results, addressing and counteracting cheating. Game developers can also use Helix Warp to deploy hack-resistant leaderboards. Helix Warp will initially focus on HTML5 games and underpin the ecosystem through the Helix Warp token.
Hedera Consensus Service and Hedera Token service
The NFT-based football game and Helix warp both will use the Hedera Consensus Service and Hedera token service as the foundational technology layers. The consensus service will act as a trust layer for applications or a permissioned network, allowing for the creation of verifiable and immutable message logs.
The token service will allow for the management, configuration, and transfer of high-throughput, fungible, and non-fungible tokens without smart contracts.
An Optimistic Management
The partnership has obviously generated considerable excitement. Co-Founder and Chairman of Animoca Brands, Yat Sui, commented,
“We are very excited to work with Hedera Hashgraph, which offers some highly appealing uses for gaming, particularly in the area of high-transaction scenarios. We believe this partnership will result in more efficient validation of play-to-earn activities, including addressing issues such as the multi-billion dollar problem of cheating in games.”
CEO of Hedera Hashgraph, Mance Harmon, added,
“Animoca Brands develops and runs some of the most popular blockchain games worldwide. It has proved itself a leader in leveraging blockchain and distributed ledger technology, providing highly engaging entertainment applications that captivate fans everywhere. We are delighted that Animoca Brands chose to build these new offerings on top of the Hedera network.”
About Animoca Brands
Animoca Brands is one of the leading lights in digital entertainment, gamification, blockchain, and artificial intelligence. It was also featured in the Financial Times list of “High Growth Companies Asia-Pacific 2021.”
The company’s portfolio includes the SAND token and the REVV token, games such as Crazy Defense Heroes and The Sandbox, Crazy Kings. In addition, its products utilize intellectual properties from Formula 1, WWE, Power Rangers, Marvel, Doraemon, and MotoGP. Animoca Brand’s long list of partnerships and blockchain investments include Sky Mavis (Axie Infinity), Dapper Labs (CryptoKitties and NBA Top Shot), OpenSea, Harmony, Bitski, and Alien Worlds. Its subsidiaries include The Sandbox, Quidd, Gamee, nWay, Pixowl, and Lympo.
Hedera is the most popular enterprise-grade public network for the decentralized economy. It is governed by a council consisting of leading global organizations such as Avery Dennison, Boeing, Chainlink Labs, Dentons, Deutsche Telekom, DLA Piper, EDF (Électricité de France), eftpos, FIS (WorldPay), Google, IBM, LG Electronics, Magalu, Nomura, Shinhan Bank, Standard Bank Group, Swirlds, Tata Communications, University College London (UCL), Wipro, and Zain Group.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.