Animoca Brands is launching a Bitcoin-based metaverse token for its game Life Beyond, aiming to integrate cryptocurrency into gaming and luxury brands’ interest in NFTs.
- Animoca Brands announces the development of a metaverse token via its subsidiary Darewise Entertainment.
- The token will be part of the Bitcoin Ordinals protocol, enabling NFT-like assets and BRC-20 tokens on the Bitcoin network.
- Partnership with Horizen Labs to provide technical expertise for the venture.
- The token will serve as the primary currency in the upcoming game, Life Beyond.
In a recent press release, Animoca Brands, a prominent player in the crypto gaming and metaverse investment space, has announced its plans to launch a metaverse ecosystem token on the Bitcoin network. This token will be developed through the Ordinals protocol by Darewise Entertainment, a subsidiary of Animoca Brands.
This week, Animoca Brands, a prominent player in the crypto gaming and metaverse investment space, revealed its ambitious plans through one of its subsidiary companies. Their objective is to introduce an unprecedented… pic.twitter.com/KJXtAzpvNB
— FMCPAY (@FMCPay) September 17, 2023
Bitcoin Ordinals and the Metaverse
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 envisions immersive gaming experiences, brand integrations, real-world connections, and more within the metaverse.
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.
Collaboration 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, 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.
Challenges and Promises
There are still challenges ahead for this initiative, including demonstrating the viability and scalability of a Bitcoin gaming ecosystem. However, Vincent Marty, Chief Product Officer at Darewise Entertainment, expressed their commitment to testing Bitcoin’s potential in a rapidly evolving digital landscape. They promised forthcoming technological advancements that will impact not only Life Beyond but also metaverses and games on a global scale.
To Sum it All Up….
Animoca Brands’ venture into the NFT market comes at a time when luxury brands are increasingly turning to NFTs to ensure the legitimacy of their products. Prada Group, the parent company of Miu Miu, has launched blockchain services in collaboration with the Aura Blockchain Consortium to allow customers to verify the authenticity of their purchased products.
Similarly, Italian luxury watch manufacturer Panerai has revealed plans to include an NFT-based “digital passport” with every watch sold after October 3.
Animoca Brands’ introduction of a metaverse ecosystem token on the Bitcoin network demonstrates the growing intersection of cryptocurrency, gaming, and the luxury industry.