Animoca Brands Unveils Innovative Bitcoin-Based Metaverse Ecosystem Token September 17, 2023 September 17, 2023 Kelly Cromley http://1AZFjzw2#Nwf63pYaMWq#xIY
Market NewsSeptember 17, 2023 by Kelly Cromley

Animoca Brands Unveils Innovative Bitcoin-Based Metaverse Ecosystem Token

In a groundbreaking move within the crypto gaming and metaverse investment sphere, Animoca Brands, a prominent industry player, has unveiled ambitious plans to introduce a novel metaverse ecosystem token on the Bitcoin network through one of its subsidiary companies. This pioneering token will be developed using the Ordinals protocol, a cutting-edge technology that empowers users to engrave NFT-like assets onto the blockchain while facilitating the creation of BRC-20 tokens on the Bitcoin network.

Taking the helm in bringing this visionary project to fruition is Darewise Entertainment, an Animoca subsidiary renowned for its creative prowess and innovation. Darewise Entertainment is also recognized as the studio behind the highly-anticipated metaverse game, Life Beyond. Their mission involves crafting an all-encompassing metaverse ecosystem centered around the Bitcoin Ordinals. This comprehensive ecosystem will encompass various facets, including gaming, brand collaborations, real-world immersive experiences, and much more. An exciting development in this venture is that Life Beyond, the forthcoming metaverse game, will be the trailblazer in implementing the freshly announced Bitcoin-based metaverse token for in-game assets and virtual properties.

For the intricate task of developing the Bitcoin-based token, Darewise has chosen to collaborate with Horizen Labs, a company renowned for its expertise in creating smart contracts and token strategies. This partnership venture draws parallels with Horizen Labs’ previous involvement in crafting ApeCoin (APE), an Ethereum-based token intrinsically linked to the Bored Ape Yacht Club NFT project. It’s worth noting that Darewise has already ventured into the world of gaming NFTs on the Ethereum scaling network, Polygon.

Benjamin Charbit, co-founder and CEO of Darewise Entertainment, enthusiastically highlighted the substantial potential that Bitcoin holds beyond its current stature as a store of value. Meanwhile, Robby Yung, the CEO of Animoca Brands, expressed profound excitement regarding the imminent implementation of Bitcoin Ordinals, emphasizing that unwavering commitment to innovation stands as a cornerstone of the Web3 industry’s evolution.

Animoca Brands, a dominant force in the burgeoning metaverse landscape, has made significant investments in a plethora of companies and pioneering projects. Notably, the company recently secured a staggering $20 million in funding for its latest metaverse endeavor, aptly named The Mocaverse. It’s important to clarify that the Bitcoin metaverse token unveiled in this announcement is an independent initiative, distinct from The Mocaverse. Nevertheless, there is a clear indication of forthcoming synergies and collaborative efforts between these two groundbreaking initiatives.

In conclusion, Animoca Brands’ revelation of its intention to introduce a cutting-edge metaverse ecosystem token on the Bitcoin network marks a significant milestone in the ongoing evolution of the metaverse and cryptocurrency industry. This pioneering initiative spearheaded by Darewise Entertainment, in collaboration with Horizen Labs, heralds a new era of possibilities, as Bitcoin extends its utility beyond being merely a store of value. As we witness continuous innovation in the realm of Web3, the convergence of cryptocurrency and the metaverse is poised to redefine the way we experience digital reality.

AuthorKelly Cromley

Kelly is our in house crytpto researcher, delving into the stories which matter from blockchains being used in the real world to new ico coming out.