Animoca Brands Rolls Out NFT Wallet Gryfyn in Joint Venture

Animoca Brands and Hex Trust have officially launched its custodial wallet solution to focus on onboarding more users.

Human hand with NFTs standing on top of it pointing at a Gryfin app opened in phone.
  • Animoca Brands and Hex Trust have launched an NFT wallet.
  • The NFT wallet will focus on Animoca’s mission to bring Web3 to more users. 

Animoca Brands is a leading Web3 venture capitalist firm with a growing portfolio of over 400 companies. The company finances and supports many upcoming NFT projects and metaverse platforms. To connect its ecosystem, the digital leader has released Gryfyn, a custodial NFT wallet that brings it all together. 

Onboarding Users 

In a joint venture with Hex Trust, Animoca Brands has officially launched its custodial wallet solution, Gryfyn. Built on Hex Trust’s digital asset infrastructure, the wallet focuses on offering users a seamless and secure Web3 experience. 

Sponsored

The NFT wallet has raised $7.5 million from high-profile investors, including Liberty City Ventures, GameFi Ventures, Angle Mind Fund, and more. The co-COO of Animoca Brands, Arnoldo Concepción, will spearhead Gryfyn as the CEO. 

Concepción commented:

“We want to connect people to new experiences. Gryfyn is a digital passport that connects anyone anywhere with their favorite experiences, whether it's in games, sports, music, education, transportation, or anything else. We’re really excited to onboard the mass market to great and secure Web3 experiences.”

Yat Siu, executive chairperson and co-founder of Animoca Brands added to the excitement by highlighting the importance of Gryfyn in its mission to catalyze adoption. The chairperson shared that the NFT wallet will provide a high-quality user experience and top-tier products in the open metaverse

Siu added that Gryfyn would bring “true digital ownership” to the metaverse. However, it’s important to note that the wallet is custodial. Third parties, like Hex Trust and Animoca Brands, will take custody of users’ private keys and have complete control over them. 

On the Flipside

  • Animoca-backed company DTTD launched an NFT custodial wallet in September 2022. DTDD’s wallet did not receive the same coverage as Gryfyn. 

Why You Should Care

Animoca Brands is backing many projects in the web3 space. Gryfyn could serve as the primary wallet for the venture capitalist’s growing ecosystem, making it easier for users to connect and access new experiences. 

Sponsored

Read a guide on the top wallets in crypto:
Top 12 Crypto Wallets to Integrate with Decentralized Apps.

Read what the U.S. President thinks about crypto:
President’s Report States Cryptocurrencies Hold No Fundamental Value.

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Author
Insha Zia

Insha Zia is a senior journalist at DailyCoin covering crypto developments, especially in the Cardano ecosystem. With a Bachelor of Science in Computer Systems Engineering, he delivers high-quality articles with his technical background and expertise in data analysis and programming languages, aiming to educate and inform readers accurately, transparently, and engagingly. Insha believes education can drive mass adoption of the crypto space, and he is committed to giving DailyCoin readers a better understanding of the technology.