Animoca Brands Subsidiary to Launch Unique Bitcoin Metaverse Token
Animoca Brands, a prominent player in the crypto gaming and metaverse investment space, has announced plans to launch a metaverse ecosystem token on the Bitcoin (BTC) network.
In a recent press release, the company said the token will be developed through the Ordinals protocol by Darewise Entertainment, a subsidiary of Animoca Brands.
Darewise Entertainment, also known as Life Beyond Studios, aims to establish a metaverse ecosystem centered around Bitcoin Ordinals.
This protocol allows users to record NFT-like assets on the blockchain and create BRC-20 tokens on the Bitcoin network.
The studio's vision for the metaverse includes immersive gaming experiences, brand integrations, real-world connections, and more.
Their upcoming game, Life Beyond, will be among the first to incorporate the newly introduced Bitcoin-based metaverse token for in-game assets and virtual lands.
While Life Beyond has previously released gaming NFTs on the Polygon scaling network, this venture marks its foray into the Bitcoin ecosystem.
The token will serve as the primary currency within Life Beyond, facilitating transactions involving in-game assets and virtual lands.
"With the advent of the Ordinals protocol, we're witnessing a pivotal moment for Bitcoin as it extends its reach and introduces the concept of culture," Yat Siu, co-founder and executive chairman of Animoca Brands, said in a comment.
"High-quality gaming is one of the keys to mass adoption, and we're thrilled that our AAA studio Darewise Entertainment is working on this untapped opportunity in partnership with Horizen Labs, a pioneer and expert in its field."
Benjamin Charbit, CEO of Darewise Entertainment, also emphasized the need to actively build and explore new possibilities for Bitcoin Ordinals.
Darewise Entertainment to Collaborate with Horizen Labs
To bring the Bitcoin token to fruition, Darewise Entertainment will collaborate with Horizen Labs, a company known for its expertise in smart contract development and token strategies.
Horizen Labs previously contributed to the creation of ApeCoin (APE), an Ethereum-based token associated with the popular Bored Ape Yacht Club NFT project.
Darewise Entertainment will receive technical and consultation support from Horizen Labs, leveraging their expertise in zero-knowledge cryptography.
"We look forward to working with the excellent Life Beyond team and bringing our expertise to this important technological innovation within the space," Robert Viglione, CEO of Horizen Labs, said.
Meanwhile, there are still some challenges ahead of the initiative, including demonstrating the viability and scalability of a Bitcoin gaming ecosystem.
However, Vincent Marty, Chief Product Officer at Darewise Entertainment, said they are committed to testing Bitcoin's potential in a rapidly evolving digital landscape and promised forthcoming technological advancements that will impact not only Life Beyond but also metaverses and games on a global scale.
Anomica's new NFT venture comes as luxury brands are increasingly turning to NFTs to ensure the legitimacy of products.
As reported, Prada Group, the parent company of Miu Miu, in cooperation with the Aura Blockchain Consortium, has launched blockchain services that allow customers to verify the authenticity of their purchased products.
Likewise, Italian luxury watch manufacturer Panerai has revealed plans to include an NFT-based "digital passport" with every watch sold after October 3.