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Animoca Brands and Hex Trust are partnering to provide institutional-grade wallets and financial services for online gamers, the two companies said in a press release on Thursday.
Animoca Brands is a leading investor in decentralized gaming and non-fungible tokens (NFTs)—with a $2.2 billion valuation as of October. Hex Trust is a crypto custodian and financial services provider with licenses in Hong Kong and Singapore.
Hex Trust will serve as custodian and provide financial services to gamers in Animoca Brands’ ecosystem, which includes The Sandbox, according to the press release. The services will also include banking services for NFTs and other crypto assets, the statement said.
“We believe that GameFi will follow the same process of institutionalization we experienced in the cryptocurrency market,” CEO and co-founder of Hex Trust Alessio Quaglini said in the press release.