Blockchain giant Animoca Brands is confident that its new joint venture with startup Hex Trust will be a major milestone for the metaverse. It aims to serve the wealthy players of a new legion who have big plans to build an empire of multi-million dollar virtual assets. Sandbox’s parents are hoping the digital wallet will help scale the community to a billion users. This is a significant increase from the current around 500,000.
With an estimated $5 billion in funding this month, Unicorn has been working with Hong Kong-based Hex Trust. It is trying to develop a virtual asset wallet and storage service for the wealthy. New crypto-asset holders are taking advantage of the growing supply of in-game assets such as virtual pavilions or VIP concert tickets issued in NFTs. But it shows that more fortune could be at risk in the metaverse.
Licensed in Hong Kong, Hex Trust has developed digital wallets for sandbox users to transfer NFTs on various blockchains. Companies can also help with succession planning for digital assets to help transfer them to their closest relatives if the original NFT owner dies or the assets are no longer accessible.
Holders can then use their digital wallets to make or receive payments for NFTs built on top of the metaverse, exchange NFTs with other cryptocurrencies, lend or borrow NFTs. Thanks to blockchain, digital assets and data can now be owned by every individual as it unlocks rights long controlled by the world’s leading tech groups.
