- Hong Kong-based gaming software company Animoca Brands is entering the Bitcoin industry by supporting the Opal Foundation, a new Bitcoin ecosystem protocol.
- The company announced its “future in Bitcoin” on April 30th, revealing high ambitions to become the “largest Web3 ecosystem” for Bitcoin-based gaming, education, and culture.
- Animoca’s transition to Bitcoin will involve the Opal Protocol Runes token and the Opal Protocol and BLIF token launched by Animoca and metaverse technology platform Darewise.
Animoca Brands, a Hong Kong-based gaming software company, is making a significant move into the Bitcoin industry by supporting the Opal Foundation, a new Bitcoin ecosystem protocol.
Animoca Brands Announces Its Future in Bitcoin
On April 30th, Animoca Brands announced its “future in Bitcoin”, revealing its high ambitions to become the “largest Web3 ecosystem” for Bitcoin-based gaming, education, and culture. The company’s transition to Bitcoin will involve the Opal Protocol Runes token and the Opal Protocol and BLIF token, which were launched by Animoca and metaverse technology platform Darewise.
Opal Protocol and BLIF Token
In the announcement, Animoca presented the upcoming BLIF as a token that will enable “real digital life” on Bitcoin and declared that Bitcoin is ready for Web3. Yat Siu, Chairman of the Board and founding partner of Animoca, said, “With the arrival of Ordinals, Bitcoin has taken a giant step from being just a way of storing value to becoming a cultural repository for the Web3 era.”
Opal Protocol: A Decentralized Ecosystem Protocol on Bitcoin
Launched in 2024, the Opal protocol positions itself as a “decentralized ecosystem protocol supported by BLIF on Bitcoin”. Its “litepaper” states, “The OPAL protocol is not just a digital playground; it is designed to be a seamless blend of virtual and real-life experiences where banking, entertainment, education, and social interactions coexist harmoniously.”
Animoca Brands Continues to Expand Its Operations
According to representatives from Opal’s official Telegram group, the launch date for the Opal protocol and BLIF airdrop will be announced at a later date. Despite the Opal protocol not yet being launched, it already has over 270,000 subscribers at the time of writing this article.
Conclusion
Animoca’s announcement of its entry into Bitcoin came during a period when Hong Kong began trading spot Bitcoin and Ether (ETH) exchange-traded funds (ETFs) on April 30th. On the first day of the launch, the ETFs recorded small volumes compared to those seen in the United States’ spot Bitcoin ETFs in January 2024. This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making decisions.
