CyberConnect, a United States-based Web3’s social network, has entered into a memorandum of understanding (MoU) for a strategic partnership with Animoca Brands, the Hong Kong-based gaming and metaverse firm, to build a decentralized social layer for Mocaverse, the non-fungible token (NFT) collection of the Animoca Brands ecosystem.
Animoca Brands said in a statement on Tuesday that CyberConnect’s smart account infrastructure CyberAccount will power the identity layer of Mocaverse, offering companies in the Animoca Brands’ portfolio the opportunity to build their own social graph and power interoperable user experiences across games, products, and services.
With CyberConnect’s recent V3 upgrade introducing CyberAccount, Web3’s first scalable and battle-tested ERC-4337-powered smart account, both companies decided to expand the scope of their partnership.
It is noted that since its launch on July 26, 2023, CyberAccount has become an industry leader in ERC-4337 account abstraction, deploying over 90 percent of all smart accounts (smart contract wallets) created to date.
According to the statement, Animoca Brands and CyberConnect plan to lay out an industry model with this upcoming Web3 social network that can lay the foundation for a new primitive in building consumer products and applications that empower users to travel across their favorite applications without recreating their networks.
Source: Technode Global