• WOO plans enlargement of innovation hub to strengthen Bitcoin ecosystem
• The brand new initiative will concentrate on tasks that carry Bitcoin Layer 2, RWA, DeFi, AI, and DePIN to the Bitcoin ecosystem.

WOO has introduced plans geared toward leveraging its innovation hub and WOO token to energy the following chapter of development for the Bitcoin (BTC) ecosystem.

That includes the highest CEX platform WOO X and the highest DEX platform WOOFi, WOO unveiled its newest initiatives at Token2049 Week in Dubai.

What are WOO's plans to strengthen the BTC ecosystem?

In keeping with a latest announcement, WOO’s Europe-based innovation middle will likely be expanded to leverage the potential of the native WOO token in driving a brand new period of Bitcoin decentralized tasks.

We’re excited to increase our Innovation Hub and considerably improve the variety of WOO-compliant merchandise within the coming months.

We stay up for additional collaboration with high-potential tasks in areas reminiscent of RWA, AI, DePIN, and the rising BTC ecosystem: https://t.co/pIPc8sURJQ

— WOO (@WOO_ecosystem) April 16, 2024

WOO's strategic plan will initially goal new development areas inside the BTC ecosystem, together with Synthetic Intelligence (AI), Bitcoin L2, Actual World Property (RWA), Decentralized Bodily Infrastructure Community (DePIN), and DeFi. .

The challenge's objective is to energy WOO-compliant merchandise throughout these industries with improvement centered on leveraging the WOO token. Ben York, vp of ecosystems, stated in an announcement that the challenge will obtain grant funding, amongst different assist, to deal with these objectives.

“Our ecosystem can present sources reminiscent of liquidity and entry to market makers, customers and companions. This can create a robust flywheel as extra high quality builders be a part of WOO. It makes a distinction,” York stated.

Tasks or groups to affix the WOO Innovation Hub will likely be chosen based mostly on their dedication to AI, RWA, DeFi, and BTC L2 innovation. Standards additionally embody the power and talent to combine WOO tokens, York added.

The Bitcoin ecosystem has obtained a variety of consideration from builders in latest months, with progressive tasks searching for to leverage the safety and traction of the highest blockchain community gaining traction. Specialists additionally opine that the fast-growing BTC L2 ecosystem may turn out to be an enormous market within the coming years.

Along with the sectors in focus, there are additionally gaming and NFTs, the latter of which has seen important improvement for the reason that inception of Bitcoin Ordinals.