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Sujit Kumar
Apr 30, 2024
by Sujit Kumar

Animoca Brands Ventures into Bitcoin with Opal Protocol

Animoca Brands Enters Bitcoin

Table of contents

  1. A Gateway to Web3 with Opal Protocol
  2. Bitcoin's Evolution to Web3
  3. Strategic Collaboration with Opal Foundation
  4. Opal Protocol: A Decentralized Ecosystem
Animoca Brands, a Hong Kong-based game software company, has unveiled its entry into the Bitcoin industry through its support for the Opal Foundation and the Opal Protocol. The company announced its ambitious plans to establish the "largest Web3 ecosystem" for gaming, education, and culture built on BTC.

A Gateway to Web3 with Opal Protocol

Backing the Opal Protocol and the BLIF token, Animoca Brands aims to facilitate a true digital life on Bitcoin. The BLIF token, initiated by Animoca and the metaverse technology platform Darewise, is set to enable various facets of digital experiences, from gaming to education, within the Web3 landscape.

Bitcoin's Evolution to Web3

Yat Siu, Animoca's executive chairman and co-founder, emphasized Bitcoin's readiness for Web3, stating that the advent of Ordinals has transformed Bitcoin into more than just a store of value but a store of culture for the Web3 age. Siu highlighted the significance of building Animoca's presence on the Bitcoin chain through the Opal Protocol to advance their vision of an open metaverse.

Strategic Collaboration with Opal Foundation

Six of Animoca Brands' portfolio companies have already joined as Genesis members of the Opal Protocol ecosystem. Moving forward, all Bitcoin-based projects from Animoca Brands will collaborate with the Opal Foundation, solidifying their commitment to the Bitcoin ecosystem.

Opal Protocol: A Decentralized Ecosystem

Initiated in 2024, the Opal Protocol positions itself as a decentralized ecosystem protocol on Bitcoin, powered by BLIF. Described as a digital extension of reality, the Opal protocol seamlessly integrates virtual and real-life experiences, fostering banking, entertainment, education, and social interactions within its ecosystem.

Disclaimer: The views and opinions expressed in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
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Animoca Brands Enters Bitcoin Opal protocol
Animoca Brands Ventures into Bitcoin with Opal Protocol
Sujit Kumar
Sujit received his Bachelors in Science from the LNMU Darbhanga. He is currently working as a Content Strategist. He has more than three years of professional experience in information systems, security policies, technologies, and Cryptocurrency. He has published 6 books in the area of information security and assurance. He has published more than 50 research articles in leading journals Regarding the Latest and Breaking Crypto News and updates. His research interests include access control, computer forensics, Digital Marketing, Web development, business hacks, player experience, and virtual storytelling.

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