Recent reports suggesting the demise of the metaverse have proven premature as venture capital investments continue to pour into companies focused on its development, or at least the evolution of gaming experiences that the Web3 community envisions. On Tuesday, Darewise Entertainment, the developer behind “Life Beyond,” announced the successful fundraising of $3.5 million through token pre-sales.
Darewise Entertainment CEO, Benjamin Charbit, expressed his enthusiasm about the latest round of funding, stating, “For this round, we are thrilled to welcome meaningful investors who not only believe in our project and values but who also come from across the spectrum of gaming and Web3 culture. It’s a significant indicator of confidence in building on the Bitcoin ecosystem.”
“Life Beyond” stands as an open-world science fiction game where players embark on a mission to construct a new civilization fueled by NFTs (Non-Fungible Tokens) and a tokenized digital economy.
The Darewise token is scheduled for an early launch in the coming year, and its development was facilitated in collaboration with Horizon Labs, the team responsible for the Ethereum-based ApeCoin (APE) token introduced in March 2022.
Established in 2018, Darewise Entertainment is dedicated to constructing its metaverse ecosystem around Bitcoin Ordinals, a sensation similar to NFTs that captured the crypto community’s attention earlier this year. The Ordinals protocol empowers users to “inscribe” images, text, and even video games on the Bitcoin blockchain while creating BRC-20 tokens. Ordinal inscriptions represent digital assets digitally recorded down to a single satoshi, which is the smallest unit of Bitcoin.
As a subsidiary of Animoca Brands, Darewise Entertainment disclosed that notable participants in the token sale included Gamefi Ventures, London Real Ventures, Citizen Capital, Blocore, and Animoca Ventures.
Darewise Entertainment revealed last month, during the initial token sale announcement, that their metaverse plans encompassed gaming, brand collaborations, real-world experiences, and more. The Darewise token is set to serve as the primary currency within this virtual universe.
The metaverse concept envisions a persistent future version of the internet, offering a shared virtual space where users interact through 3D avatars.
Hong Kong-based software company Animoca Brands, founded in 2014, had achieved a valuation of $5.9 billion by September 2022. Animoca Brands is renowned for creating the Ethereum-based open-world video game “The Sandbox,” which has gained popularity as the virtual home of numerous high-profile celebrities, including Snoop Dogg and Paris Hilton.
While Bitcoin might not immediately come to mind for open-world gaming and digital collectibles, enthusiasts view it as the ideal platform for constructing a connected universe.
James Lim, founder of Blocore, succinctly summed up their enthusiasm for Darewise Entertainment and “Life Beyond” by stating, “We invested in Darewise and ‘Life Beyond’ because we are drawn by its pioneering integration of the Bitcoin ecosystem and an immersive experience that promises to reshape the landscape of digital exploration and connectivity.”
