Bitcoin to be Utilized for Launching a Metaverse Token by Animoca Brands’ Subsidiary

Bitcoin to be Utilized for Launching a Metaverse Token by Animoca Brands' Subsidiary

Darewise Entertainment and Horizen Labs Partner to Develop First Metaverse Token on Bitcoin

Darewise Entertainment, a subsidiary of Animoca Brands, has joined forces with Horizen Labs to create the first-ever metaverse token built on the Bitcoin network. Horizen Labs, a blockchain company, will provide guidance and consulting services for the token’s development. This collaboration aims to challenge Ethereum’s dominance in the web3 and gaming sectors. Animoca Brands’ co-founder and executive chairman, Yat Siu, believes that high-quality gaming is crucial for Bitcoin’s mass adoption and considers this partnership a pivotal moment for the cryptocurrency. However, skeptics question whether Bitcoin’s existing infrastructure can handle complex transactions required for gaming in the metaverse.

Horizen Labs to Offer Technical Expertise

Horizen Labs, known for its expertise in zero-knowledge cryptography, will offer technical and consultation services for the project. Robert Viglione, CEO of Horizen Labs, expressed excitement about collaborating with Darewise and Animoca Brands due to their long-standing relationship with Bitcoin. While ambitious, this partnership must demonstrate the viability and growth potential of a Bitcoin gaming ecosystem.

Testing Bitcoin’s Potential in a Changing Digital World

Vincent Marty, chief product officer at Darewise Entertainment, stated that they are testing Bitcoin’s potential in an ever-evolving digital landscape. In the upcoming months, they plan to unveil technological advancements that will impact not only Life Beyond but also metaverses and games worldwide.

Hot Take: Bitcoin’s Entry into the Metaverse

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The partnership between Darewise Entertainment and Horizen Labs marks an important step in bringing Bitcoin into the metaverse. By creating the first metaverse token on the Bitcoin network, they aim to challenge Ethereum’s dominance in the space. While some question Bitcoin’s infrastructure capabilities, this collaboration will test the cryptocurrency’s potential in the gaming industry. As high-quality gaming becomes increasingly vital for mass adoption, this partnership could pave the way for Bitcoin’s integration into the evolving digital world.

Bitcoin to be Utilized for Launching a Metaverse Token by Animoca Brands' Subsidiary
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