Animoca Brands Partners with Blockpass to Enhance Web3 Security and Compliance
Luisa Crawford Mar 16, 2024 02:11
Animoca Brands aligns with Blockpass in a strategic partnership to bolster Web3 security, aiming to set new standards in user verification and regulatory compliance.
Animoca Brands has announced a strategic partnership with Blockpass, a pioneer in compliant identity verification. This collaboration is set to enhance the safety and regulatory adherence of the emerging Web3 and metaverse ecosystems, leveraging Blockpass's KYC/AML SaaS solutions to benefit Animoca Brands and select portfolio companies.
As digital interactions and transactions become increasingly commonplace, the issue of user safety and security has escalated. The partnership addresses these concerns head-on by incorporating Blockpass’s identity verification solutions, which are crucial in mitigating fraud risks and safeguarding users, especially in an era of sophisticated AI deepfakes and rampant identity fraud.
The strategic collaboration is particularly timely, considering the growing regulatory landscape for cryptocurrencies and related technologies. By integrating Blockpass’s KYC and AML requirements, Animoca Brands and its subsidiaries will be able to operate with greater confidence and compliance, a critical factor as scrutiny from regulatory bodies intensifies.
Moreover, the partnership promises to streamline the user onboarding process. Blockpass offers a reusable identity verification process that is both user-friendly and efficient, ensuring smooth access to Web3 services. This is instrumental in simplifying the user experience while adhering to necessary regulatory frameworks.
Blockpass, recognized as "Web3’s OG identity verifier," brings to the table an extensive suite of compliance tools designed to reduce onboarding costs, automate remediation, and protect against a range of security threats. The company boasts a network of around one million verified identity profiles and over a thousand businesses, thus facilitating instant onboarding and compliance.
Animoca Brands, on the other hand, is a global leader in gamification and blockchain, with a large portfolio of over 400 investments in Web3 projects. Its mission to advance digital property rights and build the open metaverse is well-served by the partnership, as it looks to develop and publish blockchain games and products based on global brands.
Yat Siu, co-founder and executive chairman of Animoca Brands, emphasized the alignment of the partnership with the company's core philosophy of empowering builders who believe in Web3 and the open metaverse. Adam Vaziri, CEO of Blockpass, echoed these sentiments, highlighting the collaboration as a significant step in establishing trust and regulatory compliance in the metaverse.
This partnership marks a considerable milestone in the evolution of Web3 and the open metaverse, setting a precedent for prioritizing user safety, regulatory compliance, and user experience. As the decentralized world moves towards a more secure and inclusive future, industry observers will be keenly watching the outcomes of this strategic alliance.
As the Web3 space evolves, this strategic partnership between Animoca Brands and Blockpass is poised to play a pivotal role in shaping a safer, more compliant, and user-friendly digital world.
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