Animoca Brands Announces Participation in the Celo Mobile Ecosystem for the Expansion of Web3 Gaming

Animoca Brands has officially announced that they are joining the Celo ecosystem in an effort to further expand Web3 mobile gaming adoption.

The leading blockchain gaming investment firm will participate in the ecosystem by becoming a validator and by joining Celo’s Alliance for Prosperity. By becoming a validator, Animoca is enhancing the network’s security alongside the likes of a16z, Coinbase Ventures, Deutsche Telekom, and more. According to the press release, joining the Alliance for Prosperity means that Animoca becomes “the first entertainment and gaming steward” among over 100 members, all aligned with the same goal of spreading mainstream adoption of blockchain technology through “financial inclusion, innovative project development efforts, and local and regional blockchain education campaigns.”

Next to these two methods of participation, Animoca and the Celo Foundation are also looking to work together on various strategic initiatives while exploring “new deployments and integrations” that are aimed at climate action and social impact.

Co-founder and executive chairman of Animoca Brands, Yat Siu, said the following:

“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.”

Celo is a mobile-focused, carbon-negative and EVM-compatible blockchain with more than 1000 projects across 150 countries driving climate action and social impact through the use of Web3 tools that allow for creating sustainable, eco-friendly products.

In addition to its focus on accessibility through its emphasis on mobile, Celo also comes with simple native wallets and user-friendly dApps that allow for seamless P2P mobile payments as well as the ability to pay for transaction fees using local stable assets instead of the blockchain’s native token. More than 240 million transactions have been made to date, offsetting 4,104 tons of tCO2-eq since its 2020 mainnet launch on Earth Day.

The Celo co-founder and president of the Celo Foundation, Rene Reinsberg, added:

“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.”

The full press release can be found here.