Darewise Entertainment and Animoca Brands have announced the launch of a new metaverse crypto, though in the format of a Bitcoin-based token.
This revelation is meant to mark a new era for the ecosystem of the queen of crypto assets.
The new metaverse crypto based on Bitcoin
Animoca Brands’ subsidiary, Darewise Entertainment, announced on X its intention to launch the new Bitcoin-based metaverse crypto.
Basically, the ultimate goal is to usher in a new era for the Bitcoin ecosystem by bringing the blockchain of the crypto queen (the official Blockchain), into the metaverse as well.
Not only that, by entering the metaverse, Bitcoin will also become the basis for building other tokens dedicated to gaming, branding and real-world experiences.
To make this dream a reality, the Darewise Entertainment team of AAA game veterans with support from the Animoca Brands network and Horizen Labs, a pioneer in blockchain and tokenized experiences, are already at work.
Specifically, Horizen Labs has previous experience in assisting the launch of blockchain, while here it will provide technical services to build important applications and tools to promote the Ordinals ecosystem on Bitcoin.
Bitcoin as the new crypto base of the metaverse
The new project also wants to open the doors of the metaverse to Bitcoin’s blockchain. In this regard, Yat Siu, co-founder and executive chairman of Animoca Brands, commented as follows:
“With the advent of the Ordinals protocol, we’re witnessing a pivotal moment for Bitcoin as it extends its reach and introduces the concept of culture. High-quality gaming is one of the keys to mass adoption, and we’re thrilled that our AAA studio Darewise Entertainment is working on this untapped opportunity in partnership with Horizen Labs, a pioneer and expert in its field.”
Benjamin Charbit, co-founder and CEO of Darewise Entertainment, also left comments on the matter:
“We’re still in the early innings, but 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, and that’s the essence of our partnership with Horizen Labs. We’re joining forces to contribute to the foundational infrastructure that the Bitcoin ecosystem needs to truly flourish. This is about collaboration, community, and contributing to a collective effort that could redefine the digital landscape.”
The Growth of NFT Ordinals
The present project is in addition to the already existing ideal of NFT Ordinals, and what in March 2023 became the BRC-20 standard – Bitcoin Request for Comment number 20, which makes possible the minting of new tokens on the BTC network.
And indeed, while in May 2023, Bitcoin Ordinals NFT inscriptions had skyrocketed to over 9 million, today there are over 32.7 million.
In fact, according to Dune Analytics, today these 32.7 million inscriptions have also resulted in over 2,000 BTC in fees, and that is the equivalent of nearly $55 million.
At the moment, dominating the Ordinal Bitcoin NFT scene by 90% remains the text type, followed then by images and applications.
The latest news on Bitcoin NFT Ordinals talks about the new introduction of the BRC-69 standard, which would reduce costs by 90%.