🌋 Animoca Brands and LayerZero Form Strategic Partnership
posted 31 Jul 2024
As part of the partnership, LayerZero will serve as the default interoperability solution for projects within the Animoca Brands portfolio. Furthermore, Animoca will recommend LayerZero to its 540 investment portfolio companies.
The Mocaverse network and the decentralized educational protocol, Open Campus, are already adopting the Omnichain Fungible Token (OFT) standard developed by LayerZero Labs.
The OFT standard enables the transfer of fungible tokens across different networks without the need for asset wrapping or intermediary chains. According to this standard, original assets in the source network are destroyed, and an equivalent quantity of the same tokens is issued on the destination network.
This collaboration will create seamless omnichain interactions and enhance the digital experiences for our respective communities,said Bryan Pellegrino, CEO of LayerZero Labs.
Beyond technological collaboration, Animoca Brands and the LayerZero Foundation will also organize joint hackathons and develop educational initiatives.
More breaking news
