Animoca Brands Subsidiary to Launch First Metaverse Token on Bitcoin

Darewise Entertainment, a recognized branch of Animoca Brands, will collaborate with Horizen Labs to launch the first metaverse token. Moreover, they will launch the token on Bitcoin.

Animoca Brands Metaverse Token

In a recent announcement, Darewise Entertainment revealed its plan for the development of a metaverse token on the Bitcoin network. Additionally, Darewise Entertainment, a subsidiary of Animoca Brands, has confirmed a partnership with Horizon Labs. Also, the collaboration will allow them to get expertise and consulting from Horizen Labs.

Furthermore, both firms are known as big shots in the Web3 and gaming arenas. Now, they aim to challenge Ethereum’s supremacy in the tech space. Consequently, Benjamin Charbit, CEO of Darewise Entertainment, stated, “The potential for Bitcoin to become more than just a store of value is immense. To achieve that potential, we need to roll up our sleeves and build.”

Animoca Brands Venture with Life Beyond

As a significant phase in this collaboration, the token will function as the central currency in “Life Beyond”, the famous Darewise game. Also, it will facilitate smooth transactions, surrounding in-game assets, virtual lands, and other elements. Therefore, it is expected to change the dynamic of the gaming industry.

In addition, Animoca Brands’ co-founder and executive chairman, Yat Siu, acknowledges this moment as a turning point for Bitcoins. Nevertheless, there is doubt within the industry regarding Bitcoin’s existing framework. However, Horizon Labs, renowned for its expertise in zero-knowledge cryptography, stands as the backbone of the project.

What’s more, Vincent Marty, Darewise Entertainment’s Chief Product Officer, indicates that the venture is essentially a test for Bitcoin’s versatility in adapting to the changing environment. Further, they will reveal technology that will not only shape “Life Beyond” but also influence the global metaverse. Lastly, the alliance appears to be ready to navigate through the potential hurdles with the vision of showcasing the possibilities within Bitcoin and the digital domain.