Linekong Interactive, a Beijing-based film and game production company listed on the Hong Kong Stock Exchange (HKEX), is allocating $15 million to invest in projects based on the bitcoin network.
Wang Fang, the founder of Linekong, saying in a Nov. 8 tweet that the fund, dubbed “btc Next,” will be used to accelerate emerging projects in the bitcoin ecosystem, including “asset issuance protocols, trading markets, expansion, virtual machines, NFTs, RWA and GameFi “.
For initial efforts, the company would “engage in the research and investment of the bitcoin network’s green assets as soon as possible,” publish its investment portfolios, and update the list of bitcoin green crypto assets. “The panoramic curtain of the bitcoin network ecology has slowly been drawn,” wrote btc Next. bitcoin traditionally lacked the programmability associated with newer blockchains like ethereum, and for most periods remained largely unchanged since its invention in 2008.
However, the bitcoin ecosystem has expanded greatly this year with the invention of Ordinals and Inscriptions, two novel data storage methods that together allow users to mint unique digital assets on the bitcoin blockchain.
In June, cross-chain wallet BitKeep (now Bitget Wallet) added deposit and withdrawal support for bitcoin BRC-20 tokens modeled after the ethereum ERC-20 standard. On November 7, Binance listed the popular Ordinal BRC-20 (ORDI) tokens, causing its value to rise more than 40% in a single day. BRC-20 tokens have in total reached 1.36 billion dollars in market capitalization since its inception.
Update/This issue has been brewing in my mind for 100 days. We are going to launch a btc NEXT. The next step in the crypto market is inseparable from the upgrade of the bitcoin network. Linekong Interactive’s growth has had ups and downs, at that time it joined personal computers, smartphones, Internet and games. Our next step must be closely linked to the development of the bitcoin network.
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– The new ten years of Xiaoyin (WangFeng) (@wangfeng_0128) November 8, 2023
Founded in 2007 in Beijing as an online gaming company, Linekong Interactive first went public in Hong Kong in 2014. Before founding Linekong, Wang was vice president of software development at Kingsoft Software, a Chinese IT conglomerate. information.
Wang stepped down as CEO of Linekong in 2018 to focus on blockchain, founding several projects in the non-fungible token, decentralized finance, and bitcoin mining space. He returned to Linekong as CEO in 2022 following an invitation from the company’s board of directors to better integrate Linekong products with Web3.
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