CyberConnect, recognized as one of Web3’s pioneering social networks, has formalized a memorandum of understanding (MoU) with Animoca Brands. The latter is known for its efforts in advancing digital property rights in gaming and the open metaverse. This strategic partnership aims to develop a decentralized social layer for Mocaverse, an NFT collection integral to the Animoca Brands ecosystem.
The collaboration will leverage CyberConnect’s smart account infrastructure, known as CyberAccount, to bolster the identity layer of Mocaverse. This move will provide companies under Animoca Brands the capability to construct their unique social graph. This will further enhance interoperable user experiences across various games, products, and services.
A significant development from CyberConnect was the recent V3 upgrade, which introduced CyberAccount. This is Web3’s inaugural scalable and thoroughly vetted ERC-4337-powered smart account. Since its debut on 26 July 2023, CyberAccount has established itself as a frontrunner in the ERC-4337 account abstraction domain, accounting for over 90% of all smart accounts (or smart contract wallets) created thus far.
The joint venture between Animoca Brands and CyberConnect aspires to set a benchmark in the Web3 social network space. Their goal is to pave the way for a novel paradigm in crafting consumer products and applications. This will empower users to seamlessly navigate their preferred applications without the need to reestablish their networks.
ERC-4337-powered smart accounts are designed to simplify the intricacies of crypto wallets for Web3 developers. This ensures that the user experience and onboarding process is as intuitive as the familiar Web2. Applications built on CyberAccount will grant users access to a plethora of games and services offered by Animoca Brands and its associated companies through a unified smart account.
While existing solutions like MetaMask provide developers access to a crypto-native user base, they fall short in offering developers the tools to deploy context-specific, tailored user experiences. By integrating a social graph with users’ CyberAccount, developers can expedite the launch of their decentralized applications, thereby reducing time-to-market and tapping into new user demographics. Animoca Brands envisions broadening its reach with this ‘super account’ strategy, offering developers an unparalleled user onboarding solution.
In the forthcoming months, Animoca Brands intends to extend support for CyberAccount across Mocaverse. This will enable users to integrate their networks of friends, fans, followers, and connections into their favorite applications.
Established by a team of entrepreneurs from Silicon Valley in 2021, CyberConnect is Web3’s earliest and most expansive social network. It facilitates developers in crafting social applications using ERC-4337/Account Abstraction. This empowers users to have ownership of their digital identity, content, connections, and interactions. As of August 2023, the CyberConnect protocol boasts 1.2M user profiles, with 400k monthly active wallets executing over 16.3M transactions. Its native social app, Link3, has 940k monthly active users.
Recently, CyberConnect’s native token, CYBER, has been listed on several major cryptocurrency exchanges. This includes industry giants such as Binance, Bithumb, and Bitget.
Image source: Shutterstock