Animoca Brands, a leader in the crypto gaming and metaverse investing sector, has announced the launch of a new metaverse ecosystem token on the Bitcoin (BTC) network. The token will be created through the Ordinals protocol by Darewise Entertainment, a subsidiary of Animoca Brands.
Darewise Entertainment, also known as Life Beyond Studios, is aiming to generate a metaverse based on Bitcoin Ordinals. This protocol allows users to register NFT-like assets on the blockchain and craft BRC-20 tokens on the Bitcoin network. The studio’s vision for the metaverse contains immersive gaming environments, brand integrations, real-world connections, and more.
One of the first projects to include the newly-introduced Bitcoin-based metaverse token will be Life Beyond, Darewise Entertainment’s upcoming game. This game has previously released gaming NFTs on the Polygon scaling network, and this token venture is the studio’s first step into the Bitcoin ecosystem. The token will work as the primary source of currency within Life Beyond, facilitating transactions involving in-game assets and virtual lands.
Yat Siu, co-founder and executive chairman of Animoca Brands, commented on the token launch: “With the advent of the Ordinals protocol, we’re witnessing a pivotal moment for Bitcoin as it stretches its reach and introduces the concept of culture. High-quality gaming is one of the keys to mass adoption, and we’re thrilled that our AAA studio Darewise Entertainment is exploring this untapped opportunity in partnership with Horizen Labs, a specialist in its field.”
In order to bring the Bitcoin token to life, Darewise Entertainment will collaborate with Horizen Labs, a company renowned for its expertise in smart contract development and token strategies. Horizen Labs has previously helped create ApeCoin (APE), an Ethereum-based token associated with the Bored Ape Yacht Club NFT project. Darewise Entertainment will receive technical and consultation support from Horizen Labs, using their knowledge of zero-knowledge cryptography.
Robert Viglione, CEO of Horizen Labs, said: “We look forward to working with the brilliant Life Beyond team and bringing our expertise to this important technological innovation within the space.”
Despite the challenges ahead of the initiative, including demonstrating the viability and scalability of a Bitcoin gaming ecosystem, Vincent Marty, Chief Product Officer at Darewise Entertainment, has stated the studio is dedicated to testing Bitcoin’s potential in a rapidly changing digital landscape. He also promised forthcoming technological advancements that will affect not only Life Beyond, but also metaverses and games on a global scale.
Animoca Brands’ new NFT venture comes as luxury brands are increasingly turning to NFTs to verify the legitimacy of products. Prada Group, the parent company of Miu Miu, has partnered with the Aura Blockchain Consortium to introduce blockchain services that enable customers to check the authenticity of purchased items. Similarly, Italian luxury watch manufacturer Panerai has announced plans to include an NFT-based “digital passport” with every watch sold after October 3.