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Linekong Interactive, a gaming and movie manufacturing firm headquartered in Beijing and listed on The Inventory Change of Hong Kong (HKEX), is allocating $15 million to spend money on initiatives constructing on the Bitcoin community.
Wang Fang, the founding father of Linekong, mentioned in a Nov. 8 tweet that the fund, dubbed “BTC Subsequent,” will probably be used to speed up rising initiatives within the Bitcoin ecosystem, together with “asset issuance protocols, buying and selling markets, growth, digital machines, NFT, RWA, and GameFi.”
For preliminary efforts, the agency would “take part within the analysis and funding of Bitcoin community ecological property as early as attainable,” publish its funding portfolios, and replace the checklist of Bitcoin ecological crypto property. “The panoramic curtain of the Bitcoin community ecology has slowly unfolded,” BTC Subsequent wrote. Historically, Bitcoin lacked the programmability related to newer blockchains akin to Ethereum, remaining for many intervals largely unchanged from its invention in 2008.
Nonetheless, the Bitcoin ecosystem has expanded enormously this 12 months with the invention of Ordinals and Inscriptions, two novel information storage strategies that collectively, enable customers to mint distinctive digital property on the Bitcoin blockchain.
In June, cross-chain pockets BitKeep (now Bitget Pockets) added deposit and withdrawal help for BRC-20 Bitcoin tokens modeled on the Ethereum ERC-20 commonplace. On November 7, Binance listed standard BRC-20 token Ordinals (ORDI), inflicting its worth to surge greater than 40% in a single day. BRC-20 tokens have altogether reached $1.36 billion in market cap since their inception.
更新/这件事情在我心里酝酿100天了，我们要启动一个BTC NEXT，加密市场的下一步离不开比特币网络的焕然一新。蓝港互动的成长，见过风起云涌，那时候，是和个人电脑、智能手机、互联网和游戏一起走过来的。我们的下一步，要和比特币网络的发展紧紧联系起来。
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— 小隐新十年（WangFeng） (@wangfeng_0128) November 8, 2023
Based in 2007 in Beijing as a web-based gaming agency, Linekong Interactive first went public in Hong Kong in 2014. Earlier than founding Linekong, Wang Feng was a vp of software program growth at Kingsoft Software program, a Chinese language IT conglomerate.
Feng resigned as CEO of Linekong in 2018 to deal with blockchain, founding a number of initiatives within the nonfungible tokens, decentralized finance, and Bitcoin mining area. He returned to Linekong as CEO in 2022 after an invite from the agency’s board of administrators to higher combine Linekong merchandise with Web3.
Associated: Swiss crypto financial institution SEBA will get Hong Kong SFC license
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