Key Points
- Animoca Brands, a Hong Kong-based game software company, is entering the Bitcoin industry through backing the Opal Foundation.
- Animoca aims to become the largest Web3 ecosystem for gaming, education, and culture built on Bitcoin.
Animoca Brands, a gaming software company based in Hong Kong, has announced its entrance into the Bitcoin industry by supporting the Opal Foundation, a new Bitcoin ecosystem protocol.
The company disclosed its high ambitions to become the most extensive Web3 ecosystem for gaming, education, and culture built on Bitcoin.
Animoca’s Move into Bitcoin
Animoca’s move into Bitcoin involves the Opal Protocol and BLIF token. The BLIF token will be the Opal Protocol Runes token and is initiated by Animoca and the metaverse technology platform Darewise.
In the announcement, Animoca promoted the upcoming BLIF as a token to enable a “true digital life” on Bitcoin, stating that Bitcoin is ready for Web3. The company’s executive chairman and co-founder, Yat Siu, emphasised the potential of Bitcoin in the Web3 age.
The company also revealed that six of its portfolio companies have already joined as Genesis members. All future Bitcoin-based projects from Animoca Brands will partner with the Opal Foundation.
The Opal Protocol
The Opal protocol, initiated in 2024, presents itself as a “decentralized ecosystem protocol on Bitcoin, powered by BLIF.” It aims to be a digital extension of reality, where banking, entertainment, education, and social interactions coexist harmoniously.
Despite the Opal protocol not having launched yet, it has already garnered significant interest with over 270,000 subscribers.
The company expressed pride in having Animoca Brands as their first strategic launch partner. The Opal Foundation will assist in establishing the open Opal protocol into Bitcoin and ordinals.
Animoca’s announcement on entrance into Bitcoin coincides with the trading debut of spot Bitcoin and Ether exchange-traded funds (ETF) in Hong Kong on April 30. The ETFs recorded small volumes on the first day of launch, compared to those seen by spot Bitcoin ETFs in the United States in January 2024.
