Animoca Brands To Develop Largest Web3 Ecosystem on Bitcoin With Opal Protocol

On May 1, 2024

Animoca Brands has announced their plans to enter the Bitcoin ecosystem by leveraging the Opal Protocol, with the goal of developing the largest Web3 ecosystem that encompasses gaming, entertainment, DeFi, education, and culture. This move has been initiated in partnership with Darewise, a metaverse technology platform.

The Opal Protocol and BLIF Token

The Opal Protocol is a decentralized ecosystem protocol built on Bitcoin and driven by BLIF, the Opal Protocol Runes token. It aims to harmonize various domains such as finance, entertainment, education, and governance within the Web3 universe. This partnership between Animoca Brands and Darewise marks a significant step towards realizing this vision.

Yat Siu, the executive chairman and co-founder of Animoca Brands, highlighted the shift of Bitcoin from a mere store of value to a “store of culture” in the Web3 age. This is made possible by ordinals, which are digital assets that represent ownership or control of a specific asset or property within the metaverse. By developing on the Bitcoin chain via the Opal Protocol, Animoca Brands aims to promote digital property rights and benefit from network effects, enhancing the open metaverse concept.

Genesis Members and Inviting Others to Join

Six of Animoca Brands’ portfolio companies have already joined as Genesis members in this new ecosystem. This diverse group of companies will collaborate to build a robust and interconnected ecosystem on the Bitcoin chain, utilizing the Opal Protocol and BLIF token.

But this is just the beginning. Animoca Brands has invited other interested companies to join the movement by applying to become an OPAL member and building using BLIF. This open invitation aims to bring in more innovative ideas and expand the possibilities of what can be achieved with the Opal Protocol.

Final Thoughts

The partnership between Animoca Brands and Darewise to develop a Web3 ecosystem on the Bitcoin chain through the Opal Protocol is a significant step towards the mainstream adoption of blockchain technology. By leveraging ordinals and digital property rights, this ecosystem will bring together various domains such as gaming, entertainment, DeFi, education, and governance, providing a seamless and interconnected experience for users.

With six of Animoca Brands’ portfolio companies already on board as Genesis members, the potential for growth and collaboration in this ecosystem is immense. And by inviting other businesses to join, the door is open for even more innovation and expansion within the Web3 universe.

As we continue to see advancements in blockchain technology and its integration into various industries, collaborations and partnerships like this will play a crucial role in driving its adoption and growth. Animoca Brands’ vision to develop the largest Web3 ecosystem on the Bitcoin chain is an exciting development that has the potential to transform how we interact with digital assets and property rights in the metaverse.

Credit: Source link