Crypto Gaming Giant Animoca Brands to Launch Bitcoin-Based Metaverse Token
Animoca Brands, a leading crypto gaming and metaverse investment company, has announced plans to launch a unique metaverse ecosystem token on Bitcoin. The token will be created through the Ordinals protocol by Darewise Entertainment, a subsidiary of Animoca. Darewise aims to build an all-encompassing metaverse ecosystem centered around Bitcoin Ordinals, which allows users to inscribe NFT-like assets on the blockchain and create BRC-20 tokens on Bitcoin.
The Vision for the Metaverse
Darewise Entertainment’s metaverse plan includes gaming, brand integrations, real-world experiences, and more. Their upcoming game, Life Beyond, will be the first to implement the newly announced Bitcoin-based metaverse token for in-game assets and virtual lands.
Collaboration with Horizen Labs
To create the Bitcoin token, Darewise will collaborate with Horizen Labs, the company behind ApeCoin—an Ethereum-based token tied to the Bored Ape Yacht Club NFT project. Life Beyond Studios has previously released gaming NFTs on Polygon, an Ethereum scaling network.
Excitement for Bitcoin Ordinals
Animoca Brands CEO Robby Yung expressed excitement about pioneering the use of Bitcoin Ordinals. He emphasized that continuous innovation is a key characteristic of the Web3 industry and that Animoca aims to push boundaries with their application of Ordinals.
The Potential of Bitcoin in the Metaverse
Ordinal inscriptions are digital assets archived to a single satoshi—the smallest unit of Bitcoin. While trading activity around these artifacts has decreased recently, new products like social graphs and planned Bitcoin metaverse ecosystems continue to emerge. Benjamin Charbit, co-founder and CEO of Darewise Entertainment, believes that Bitcoin has immense potential beyond being a store of value.
About Animoca Brands
Animoca Brands is a major player in the metaverse space, having invested in numerous companies and projects. With a valuation of $5.9 billion as of September 2022, the company publishes various NFT-based games, including The Sandbox. Animoca recently secured $20 million in funding for its new metaverse project, The Mocaverse.
Hot Take: Bitcoin’s Role in the Metaverse
The announcement of a Bitcoin-based metaverse token marks an exciting development in the crypto gaming industry. By leveraging Bitcoin Ordinals and collaborating with Horizen Labs, Animoca Brands and Darewise Entertainment are pushing the boundaries of what is possible within the metaverse. This move demonstrates the potential for Bitcoin to extend beyond its role as a store of value and become an integral part of virtual worlds and gaming experiences.
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