tl;dr
Animoca Brands, a Hong Kong-based game software and venture capital company, has formed partnerships with the Opal Foundation and Saakuru Labs to advance its position in the Web3 sector. By collaborating with the Opal Foundation, Animoca Brands aims to integrate BLIF tokens into the Bitcoin ecosyste...
Animoca Brands, a Hong Kong-based game software and venture capital company, has formed partnerships with the Opal Foundation and Saakuru Labs to advance its position in the Web3 sector. By collaborating with the Opal Foundation, Animoca Brands aims to integrate BLIF tokens into the Bitcoin ecosystem and build a Web3 ecosystem on Bitcoin's network. The partnership with Saakuru Labs seeks to enhance Web3 gaming adoption and solidify Animoca Brands' influence in Southeast Asia. These strategic alliances align with the projected dramatic growth of the Web3 market, which is expected to reach $16.3 billion by 2028, driven by increasing adoption, scalability solutions, and the evolution of token economies.
In a strategic move to advance the Web3 sector, Animoca Brands, a game software and venture capital company based in Hong Kong, has announced partnerships with the Opal Foundation and Saakuru Labs. These collaborations aim to propel Animoca into the Bitcoin ecosystem and drive the expansion of Web3 gaming.
By partnering with the Opal Foundation, Animoca Brands embraces Bitcoin’s potential by integrating BLIF tokens, the essence of the OPAL Protocol. This initiative, powered by the collaboration between Darewise and Animoca, aims to forge a Web3 ecosystem atop Bitcoin’s network. This venture has quickly garnered support, with six Animoca Brands portfolio companies becoming genesis members of the OPAL Protocol. Looking ahead, all Animoca Brands’ Bitcoin-based projects will also align with Opal. This action ensures a consolidated and progressive development within the ecosystem. Key industry players like Magic Eden, Xverse, ALEX, and HorizenLabs have already pledged their participation in this project. In the coming days, Opal will announce additional core members. Vincent Marty, Chief Product Officer at Darewise, shared insights on the potential of the OPAL Protocol.
BLIF token offers a comprehensive digital life experience, transcending traditional gaming and entertainment boundaries. According to the information in its litepaper, Opal explained that BLIF “is rooted to the foundational layer, enabling access to higher levels of the ecosystem.”
Simultaneously, Animoca Brands has solidified a strategic partnership with Saakuru Labs, the developers behind the L2 Saakuru Protocol. This alliance intends to enhance Web3 gaming adoption by integrating Saakuru’s blockchain technology. Furthermore, it also aims to solidify Animoca Brands’ influence in Southeast Asia. Yat Siu, co-founder and executive chairman of Animoca Brands, highlighted the strategic importance of this collaboration.
“The Southeast Asian market, with its burgeoning tech-savvy demographic, is primed to lead the Web3 revolution. Our partnership with Saakuru Labs is pivotal in catalyzing this shift, making the open metaverse a reality through gaming,” Siu said.
In a report, Research and Markets projected the Web3 market’s value to grow from $3.19 billion in 2023 to $4.43 billion in 2024, reflecting a CAGR of 38.8%. The potential for further growth is immense, with the market expected to reach $16.3 billion by 2028. Furthermore, the report highlighted that this growth will be driven by increasing adoption, scalability solutions, and the evolution of token economies.
“Key trends expected in this period comprise technological advancements, developer creativity, cross-chain partnerships, edge computing enhancements, accelerated transaction speeds, tokenization, and developments in crypto economics,” the report stated.
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