With the aim of creating and expanding the digital wallet market in the Web3 area, Japanese technology firm Nippon Electric Company, Limited, (NEC) has entered a memorandum of understanding with Hong Kong-based Wed-3 firm Animoca Brands Corporation Limited (Animoca Brands) and Gryfyn Holdings Limited (Gryfyn), a joint venture between Animoca Brands and Hex Trust.
Animoca Brands said in a statement on Thursday that the three companies will jointly explore collaboration on expanding the digital wallet business in Web 3 space from April 2023.
Through this collaboration, NEC aims to realize a trustworthy Web3 society, creating, and expanding the market by combining the Gryfyn-powered wallet and services with NEC’s biometric authentication technology as well as other software and technologies related to digital wallets.
The collaboration includes the prrovision of software and technologies related to Gryfyn services developed by Animoca Brands and Gryfyn.
It also includes the provision of software and technologies related to digital wallet technology owned by NEC, and accelerator program collaboration from NEC, Animoca Brands and Gryfyn in Japan.
The accelarator program, which will be announced in the future, empowering business ideas from startups in the Web3 space, integrating them into the ecosystem of NEC, Animoca Brands, and Gryfyn, and considering joint commercialization.
NEC has established itself as a leader in the integration of information technology (IT) and network technologies while promoting the brand statement of “Orchestrating a brighter world.”
The firm enables businesses and communities to adapt to rapid changes taking place in both society and the market as it provides for the social values of safety, security, fairness and efficiency to promote a more sustainable world where everyone has the chance to reach their full potential.
The firm is working to realize a Web3 society in which privacy protection and data utilization are compatible, and where people and data are trusted, by leveraging its world-class biometric authentication, secure computation and blockchain technologies.
As part of this initiative, NEC is aiming to expand the digital wallet market and business opportunities.
Based in Hong Kong, Animoca Brands is a leader in digital entertainment, blockchain and gamification areas.
The company has been committed to advancing digital property rights for gaming and contributing to establishing the open metaverse.
The company develops and publishes a broad portfolio of products including the REVV token and SAND token; original games including The Sandbox, Crazy Kings, and Crazy Defense Heroes; and products utilizing popular intellectual properties including Disney, WWE, Snoop Dogg, The Walking Dead, Power Rangers, MotoGP™, and Formula E.
It has multiple subsidiaries, including The Sandbox, Blowfish Studios, Quidd, GAMEE, nWay, Pixowl, Forj, Lympo, Animoca Brands Japan, Grease Monkey Games, Eden Games, Darewise Entertainment, Notre Game, TinyTap, Be Media, PIXELYNX, and WePlay Media.
Animoca Brands has a growing portfolio of more than 380 Web3 investments, including Colossal, Axie Infinity, OpenSea, Dapper Labs (NBA Top Shot), Yield Guild Games, Harmony, Alien Worlds, Star Atlas, and others.
Gryfyn, provides a custodial crypto wallet that allows anyone anywhere to easily and safely access digital experiences, own and handle digital assets, and connect with their favorite brands.
Its shareholder Hex Trust provides its fully licensed bank-grade security and custody infrastructure to connect seamlessly to the rapidly expanding Web3 ecosystem.
Gryfyn offers a secure, reliable and stress-free environment to store, interact with, and acquire digital assets.
People around the world use Gryfyn as a digital passport to engage with events, entertainment, and each other.
Animoca Brands and Hex Trust launch NFT-centric custodial wallet joint venture
