$3.5M Raised in Token Presales for Bitcoin Metaverse Game

The CEO expressed excitement about attracting investors from the gaming and Web3 communities, signaling confidence in the Bitcoin ecosystem.

$3.5M Raised in Token Presales for Bitcoin Metaverse Game
$3.5M Raised in Token Presales for Bitcoin Metaverse Game

The reports of the metaverse’s demise were greatly exaggerated, and venture capital continues to flow into companies developing it, or at least developing what many Web3 members hope will be the next generation of gaming experiences.

On Tuesday, “Life Beyond” creator Darewise Entertainment announced that $3.5 million had been raised through token presales.

Benjamin Charbit, CEO of Darewise Entertainment, said in a statement, “For this round, we are thrilled to welcome meaningful investors who not only believe in our project and values but also come from across the spectrum of gaming and Web3 culture.”

It is a significant indicator of confidence in the development of the Bitcoin ecosystem.

“Life Beyond” is an open-world science-fiction game in which players attempt to build a new society utilizing NFTs and a tokenized digital economy.

The Darewise token is scheduled to launch early in 2019 and was created in collaboration with Horizon Labs, the team behind the Ethereum-based ApeCoin (APE) token, which debuted in March 2022.

Launched in 2018, Darewise Entertainment intends to build its metaverse ecosystem around Bitcoin Ordinals, the NFT-like phenomenon that has taken the cryptocurrency world by storm in 2018.

The Ordinals protocol enables users to “engrave” images, text, and even video games onto the Bitcoin blockchain and generate BRC-20 tokens. Ordinal inscriptions are digital assets digitally recorded to a single satoshi, the smallest Bitcoin denomination.

Darewise Entertainment, a subsidiary of Animoca Brands, reported that Gamefi Ventures, London Real Ventures, Citizen Capital, Blocore, and Animoca Ventures participated in the token sale.

Darewise Entertainment stated last month, when the token sale was first announced, that its metaverse would feature gaming and brand integrations, real-world experiences, and more, with the Darewise token serving as the universe’s native currency.

The metaverse is a persistent, future version of the internet. The metaverse is envisioned as a shared virtual world in which individuals interact with 3D avatars.

Animoca Brands, a Hong Kong-based software company, was founded in 2014, and by September 2022, it was valued at $5.9 billion.

Animoca Brand is the developer of the popular Ethereum-based open-world video game The Sandbox, which has been the virtual home of numerous celebrities, including Snoop Dogg and Paris Hilton.

Even though Bitcoin may not be the first blockchain that comes to mind for open-world gaming and digital collectibles, enthusiasts view it as the ideal platform for constructing a connected universe.

Blocore founder James Lim said, “We invested in Darewise and ‘Life Beyond’ due to its innovative integration of the Bitcoin ecosystem and immersive experience that promises to transform the landscape of digital exploration and connectivity.”