The Chinese internet company Linekong Interactive, which is traded on the Hong Kong Stock Exchange (HKEX), is launching a $15 million fund with the goal of reviving the Bitcoin (BTC) ecosystem.
The new fund, called “BTC Next,” would expedite innovative projects creating asset issuance, exchanges, virtual machines, NFTs, and GameFi protocols on the Bitcoin network, according to creator Wang Feng.
Wang said, “BTC NEXT will update the list of Bitcoin ecological crypto assets participating in investment, publish crypto investment portfolios on a regular basis, and participate in the research and investment of Bitcoin network ecological assets as early as possible.”
With the development of Ordinals and Inscriptions, two cutting-edge data storage techniques that together enable users to mint distinctive digital assets on the Bitcoin blockchain, the Bitcoin ecosystem has grown significantly this year. Since its launch, the market capitalization of Bitcoin tokens issued under the BRC-20 standard—which is modeled after the Ethereum ERC-20 standard—has exceeded $1.4 billion.
In 2007, Linekong was established in Beijing, specializing in video games and movies. Wang Feng left his position as CEO of Linekong in 2018 to concentrate on blockchain technology. He founded a number of businesses in the domains of Bitcoin mining, decentralized finance, and nonfungible tokens. In 2022, he rejoined Linekong as CEO in response to an offer from the company’s board of directors to improve Linekong product integration with Web3.
