Animoca Brands’ subsidiary, Darewise Entertainment, has successfully raised $3.5 million through a token presale to develop a metaverse ecosystem on Bitcoin. This ecosystem is designed for gaming, brands, and in-game purchases. The token, based on Bitcoin Ordinals, will be utilized in various projects, with Life Beyond being the first one to use it.

The funding for this project came from gaming investors and venture capital firms that support web3 technologies. Darewise boss Benjamin Charbit expressed that this funding is a strong vote of confidence from investors in the potential of building on the Bitcoin ecosystem.

The token is set to be launched in early 2024 with the assistance of Horizen Labs, a blockchain company that offers technical token development and consulting services for Darewise. Darewise, known for developing the sci-fi survival sandbox MMORPG Life Beyond, is backed by non-fungible tokens (NFTs) and a player-driven tokenized economy to create immersive gaming experiences.

Animoca Brands acquired 70% of Darewise’s shares in April 2022, shortly after acquiring another game development studio, Eden Games. This move demonstrates Animoca’s belief that blockchain-based games can coexist with high-quality AAA content.

In related news, a Korean telecom giant has recently launched its own digital currency for its metaverse project. The growing trend of metaverse development is attracting significant investments and interest from both investors and developers in the gaming industry.

For more updates and news on the latest developments in the world of cryptocurrencies, investing, and finance, stay tuned to Global Crypto News.

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