Linekong Interactive, a Beijing-based game and film production company listed on the Hong Kong Stock Exchange (HKEX), will allocate $15 million to invest in projects on the Bitcoin network.
Wang Fang, founder of Linekang, explain In a tweet on November 8, the fund is called “BTC Next” and will be used to accelerate emerging projects in the Bitcoin ecosystem, including “asset issuance protocols, trading markets, expansions, virtual machines, NFTs , RWA and GameFi”.
In its initial efforts, the company will “participate in the research and investment of Bitcoin network ecological assets as early as possible,” publish its investment portfolio, and update the list of Bitcoin ecological crypto assets. “The panoramic view of the Bitcoin network ecosystem has slowly unfolded,” BTC Next wrote. Bitcoin has traditionally lacked the programmability associated with newer blockchains such as Ethereum, remaining essentially unchanged from when it was invented in 2008 for most of its time.
However, the Bitcoin ecosystem has been greatly expanded this year with the invention of ordinal numbers and inscriptions, two novel data storage methods that together allow users to mint unique digital assets on the Bitcoin blockchain.
In June, the cross-chain wallet BitKeep (now Bitget Wallet) added support for deposits and withdrawals of BRC-20 Bitcoin tokens modeled on the Ethereum ERC-20 standard. On November 7, Binance launched the popular BRC-20 token Ordinals (ORDI), with a single-day increase of more than 40%. There are total BRC-20 tokens arrive Since its inception, the market capitalization has reached US$1.36 billion.
Update/This matter has been brewing in my mind for 100 days. We are going to launch a BTC NEXT. The next step in the encryption market is inseparable from the refresh of the Bitcoin network. The growth of Linekong Interactive has seen ups and downs. At that time, it came together with personal computers, smart phones, the Internet and games. Our next step must be closely linked to the development of the Bitcoin network.
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— Xiaoyin’s New Ten Years (WangFeng) (@wangfeng_0128) November 8, 2023
Linekong Interactive was established in Beijing in 2007 as an online gaming company and was first listed in Hong Kong in 2014. Before founding Linekong Interactive, Mr. Wang served as vice president of software development at Kingsoft Software, a Chinese information technology group.
Mr. Wang resigned as CEO of Linekong Online in 2018 to focus on blockchain and created multiple projects in the fields of non-fungible tokens, decentralized finance and Bitcoin mining. Invited by the company’s board of directors, he will return to Linekong as CEO in 2022 to better integrate Linekong products with Web3.
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