As an analyst with a background in blockchain technology and experience in following the crypto market, I’m excited about Animoca Brands’ entry into the Bitcoin industry. The company’s ambitious plan to become the largest Web3 ecosystem on Bitcoin for gaming, education, and culture is significant and could lead to innovative developments in the space.
As a researcher studying the latest developments in the tech and finance industries, I’m excited to share that Animoca Brands, a prominent game software company based in Hong Kong, has announced its entry into the Bitcoin (BTC) sector. They plan to support the Opal Foundation, a newly established entity developing a protocol within the Bitcoin ecosystem.
On April 30, Animoca Brands unveiled its plans to join the Bitcoin world. With grand aspirations, they aim to establish the most extensive Web3 ecosystem for gaming, education, and culture, all built on the foundation of Bitcoin.
As a crypto investor, I would describe it as follows: I’m excited about the company’s decision to dive into Bitcoin. They’re utilizing the Opal Protocol and BLIF token for this venture, which will be referred to as the Opal Protocol Runes token from now on. This initiative is spearheaded by Animoca and Darewise, a metaverse technology platform.
In the announcement, Animoca highlighted the upcoming BLIF token as a means to facilitate a genuine “digital existence” on the Bitcoin network, asserting that Bitcoin is now prepared for the Web3 era.
“With the emergence of Ordinals, Bitcoin transformed from merely a means for storing value into a cultural repository for the Web3 era,” according to Animoca’s executive chairman and co-founder Yat Siu.
“Building up our presence on the Bitcoin chain through the exciting work of the OPAL Protocol will help to advance our vision of an open metaverse in which all people have the opportunity to enjoy digital property rights and benefit from the power of network effects.”
As an analyst, I’ve reviewed the X thread from the company and found that six businesses under Animoca Brands have signed up as Genesis members. Furthermore, the announcement disclosed that Animoca Brands will collaborate with the Opal Foundation for all future Bitcoin projects.
I discovered the Opal protocol back in 2024. This decentralized platform runs on Bitcoin and is fueled by BLIF. According to its litepaper, it’s designed to create an autonomous ecosystem within the Bitcoin network.
“The OPAL protocol is not just a digital playground; it’s a seamless blend of virtual and real-life experiences designed to be a digital extension of reality, where banking, entertainment, education, and social interactions coexist harmoniously.”
As a researcher investigating the Opal project, I’ve come across information from their representatives within the official Telegram group. They have shared that the release date for the Opal protocol and BLIF airdrop is yet to be determined and will be announced at a future time.
Though the Opal protocol has not been launched as of now, over 270,000 individuals have expressed their interest by subscribing to it.
The Opal Foundation is thrilled to announce Animoca Brands as our initial strategic collaborator in bringing the Opal protocol into the Bitcoin and Ordinals ecosystem. Our partnership will facilitate the realization of Animoca Brands’ vision using the Opal Foundation’s expertise. (Source: Paraphrased from “We are proud to have Animoca Brands as our first strategic launch partner, as the Opal Foundation will help to bridge their vision to establish the open Opal protocol into Bitcoin and ordinals.”)
As a cryptocurrency market analyst, I reached out to Animoca Brands seeking their perspective on recent news, yet they failed to provide a comment prior to my article’s release.
Animoca’s entry into Bitcoin occurs concurrently with Hong Kong’s launch of Bitcoin and Ether (ETH) spot Exchange-Traded Funds (ETFs) on April 30th.
During their initial debut, the ETFs (Exchange-Traded Funds) saw relatively low trading volumes on the first day, contrasting the substantial volumes experienced by U.S. spot Bitcoin ETFs back in January 2024.
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2024-04-30 14:41