Gaming and other Web3 networks have continued to join the Bitcoin industry to get better opportunities. A recent entry is that of Animoca Brands which announced its entry on 30 April 2024. Its arrival to Bitcoin discovery comes along with big names like Opal Protocol and BLIF Token.
Animoca Brands in the gaming industry
Animoca is one of the prominent names in the gaming industry. The Hong Kong-based game software has continued to excel and has rightly occupied the place of a powerhouse in the Web3 space. Furthermore, their investments in the Web3 space are whopping which amounts to 380 million dollars.
It is a company that specializes in digital entertainment, games, and blockchain. In addition to that, it has continued to advance digital property rights while also leaving imprints on the metaverse. Some of the impressive additions it has made to the industry include SAND and REVV tokens while it has also brought games like The Sandbox, Crazy Kings, and Crazy Defense Heroes.
It strives to continue its work in the metaverse and other modern technologies. In a step to advance further, it has announced that it will be joining the Bitcoin industry. The announcement came with the support of Opal Foundation which is a new Bitcoin ecosystem protocol.
Coming to the Bitcoin industry
Animoca Brands has announced into the Bitcoin industry through a Tweet which shared the details of why the step has been taken and who supports it. The announcement said that Animoca Brands is set to become the largest Web3 ecosystem covering various areas including gaming, education, entertainment, culture, DeFi, etc.
The Hong Kong-based ecosystem will be entering the Web3 space with the backing of Opal Foundation. While this move has been initiated in collaboration with Darewise. The announcement said that BLIF token will enable a true digital life on Bitcoin. It also boasted that Bitcoin is ready for Web3 with this big launch.
As Ordinals have been introduced to Bitcoin, it will not simply remain a store for valuables but a home to culture and entertainment. Big statements came from the Animoca Brands co-founder Yat Siu in a recent interview who said that it will be a big leap for Bitcoin.
Animoca Brands’ step to come to the Bitcoin network has garnered support from the network’s portfolio companies. In addition to that, the announcement made in a Twitter thread said that the future Bitcoin-based projects of the ecosystem will be in partnership with Opal Foundation.
The announcement of Animoca Foundation’s joining of Bitcoin network came amidst the debut of spot Bitcoin and Ether ETF in Hong Kong. Though the launch of ETFs is a big step, the recorded volumes of trades are comparatively lower than that of the United States in January 2024.
Impacts and benefits for the users
The entry of Animoca Brands to the Bitcoin industry is a big step that will benefit both. As Animoca has plans to excel in providing a range of services like education, culture, gaming, entertainment, etc., it will add to the value of Bitcoin. While Bitcoin’s big market and value will add to the value of services of Animoca.
Animoca Brands has announced a collaboration with Opal Protocol which hasn’t been launched yet but has about 270,000 subscribers on Twitter/X profile. The company said that collaboration with Opal will bridge their vision of bringing Bitcoin and Ordinals through the open Opal Protocol.
Conclusion
Hong Kong-based ecosystem Animoca Brands has announced its entry into the Bitcoin industry. As it operates in a range of fields including gaming, entertainment, and education, it will bring valuable services to Bitcoin. It is a mutually beneficial step for Bitcoin and the mentioned ecosystem. The entry has come at the advent of Bitcoin and Ether ETFs to Hong Kong.
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