TL;DR
- Animoca Brands will back Opal Foundation as part of its strategy to engage in the crypto market.
- They aim to establish themselves as the leading Web3 ecosystem based on Bitcoin for gaming, education, and culture.
- Opal Protocol, powered by the BLIF token, aims to be a digital extension of reality, promoting digital property rights and network effects in an open metaverse.
The renowned Hong Kong-based gaming software company, Animoca Brands, has decided to support Opal Foundation, a new Bitcoin ecosystem protocol. The decision was announced on April 30 and is part of a strategy to deepen the company’s involvement in the crypto market.
Animoca Brands aims to become the leading Web3 ecosystem for gaming, education, and culture built on Bitcoin. Their foray involves adopting the Opal Protocol and the BLIF token, which, according to Animoca Brands, is conceived as a token intended to enable a “true digital life” in the Bitcoin environment.
Animoca Brands is coming to #Bitcoin!
Bitcoin is ready for Web3. OPAL Protocol (@OpalBTC), powered by $BLIF and initiated by @darewise & @animocabrands, is slated to become the largest #Web3 ecosystem of #gaming, entertainment, #Defi, education, and culture, built on Bitcoin.
A… pic.twitter.com/WcJ65vMHfB— Animoca Brands (@animocabrands) April 30, 2024
On the other hand, Opal Protocol is a decentralized ecosystem on Bitcoin, powered by the BLIF token. It is a blend of virtual and real-life experiences designed to be a digital extension of reality. According to Animoca Brands, Opal Protocol will help advance their vision of building an open metaverse where everyone has the opportunity to enjoy digital property rights and benefit from network effects.
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As part of its initiative and commitment to Bitcoin, Animoca Brands has secured the participation of six of its associated companies as Genesis members in the Opal Foundation. Additionally, all future Animoca projects based on BTC will be carried out in collaboration with Opal Foundation.
Although Opal Protocol has not yet been launched, it already has a large subscriber base on its X profile. Indicating growing interest in this new initiative. The launch date of the protocol and the BLIF token airdrop has not yet been announced.
Animoca Brands’ entry into the world of Bitcoin comes at an opportune time. Coinciding with the debut of Bitcoin and Ether exchange-traded funds (ETFs) in Hong Kong on April 30. While it is still early to fully assess the impact of this move. It is clear that the company is committed to expansion and trusts in the potential of BTC.
