{"id":11656,"date":"2021-06-04T10:20:24","date_gmt":"2021-06-04T10:20:24","guid":{"rendered":"https:\/\/www.legitgambling.com\/news\/?p=11656"},"modified":"2021-06-04T10:20:24","modified_gmt":"2021-06-04T10:20:24","slug":"animoca-brands-teams-with-hedera-for-gaming-ventures-nfts","status":"publish","type":"post","link":"https:\/\/www.legitgambling.com\/news\/animoca-brands-teams-with-hedera-for-gaming-ventures-nfts\/","title":{"rendered":"Animoca Brands Teams with Hedera for Gaming Ventures, NFTs"},"content":{"rendered":"

\"AnimocaGaming focused firm Animoca Brands<\/a> is collaborating with Hedera Hashgraph<\/strong> to create two gaming ventures using the latter\u2019s public distributed ledger. Another partner in the project is Helix Accelerator<\/strong>, which will provide guidance, mentorship and investment funding for solutions created on Hedera Hashgraph. Notably, Animoca took over Helix recently.<\/p>\n

The initial venture is a game centered on non-fungible tokens (NFTs), which can be bought and sold, representing football clubs having licensing agreements with Animoca Brands. As of date, Animoca is having agreement with City Football Group<\/a>, which includes Manchester City, Melbourne City and New York City<\/em> FC. Furthermore, Animoca also markets an array of NFTs from FC Bayern Munich<\/em>. <\/p>\n

For a pre-determined amount paid in the form of HBAR, the native crypto of Hedera network, NFT owners will be able to \u201csell<\/em>\u201d their holdings back via the platform. Notably, it will be the foremost time that commercialized NFTs can be redeemed for a confirmed amount paid in the form of cryptocurrencies<\/a>. The second venture Helix Warp<\/strong> is an online gaming system focused on developers to build hacker-immune scoreboards for games. The platform will run on the basis of a service-side emulation model to save in-game outcome. <\/p>\n

Both ventures will utilize Hedera\u2019s Consensus and Token Service. Notably, the Consensus Service is an added layer of trust that develops an unalterable record of messages. The token service facilitates the administration of NFTs (and fungible tokens) without the expenses and threats of smart contracts. These aspects have been utilized to foster Hedera as a payments system.<\/p>\n

Yat Siu<\/strong>, co-founder of Animoca Brands, expressed his happiness to join hands with Hedera Hashgraph<\/a>, which has a compelling use case in gaming industry, specifically in the domain of high volume transactions. Siu further stated that he trusts the collaboration will yield in highly effective verification of play and earn efforts, including resolving problems such as the multi-billion dollar issue of fraud in games.<\/p>\n

Interestingly, Animoca is prohibiting the NFT game related partnership with Hedera to football<\/a>. Notably, with F1 Delta Time game, among others, the firm has a robust presence in domain such as motorsport<\/a>. <\/p>\n

Animoca Brands<\/strong><\/p>\n

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