Metaverse

Animoca Brands Advances with Bitcoin Open Metaverse Plan

  • All Bitcoin-based projects from Animoca Brands will onboard Runes-powered Opal Protocol, confirms the team.
  • Initially, 6 subsidiary companies will join the Web3 gaming ecosystem on Bitcoin as Genesis members.

Animoca Brands, the Hong Kong-based giant in web3 gaming and metaverse investments, is advancing its plan to construct an ‘open metaverse’ within the Bitcoin ecosystem by partnering with the Runes-powered Opal Protocol.

The protocol’s list of “genesis members” features six portfolio companies of Animoca Brands, namely, Life Beyond, Open Campus, Enjin Starter, Helika, Pixelynx, and Azarus. Moreover, Solana-based NFT marketplace MagicEden, ApeCoin ecosystem developer Horizen Labs, Metaverse Tech firm Darewise, Bitcoin Wallet Xverse, and Bitcoin DeFi player ALEX Lab have joined as early core members of OPAL’s initiative.

Yat Siu, executive chairman and co-founder of Animoca Brands, stated:

“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.”

Notably, OPAL protocol upholds a unique reward ecosystem driven by “Proof of Valuable Work.” This concept is centered around “value-nomics” that reward the ecosystem participants based on their contributions. The entire ecosystem is powered by a hybrid BRC-20 token BLIF. Aligning mutually with its motto of establishing sustainable ecosystems, Animoca Brands chose to collaborate with OPAL to build an open metaverse within the Bitcoin ecosystem.

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