Animoca and the Opal Foundation have teamed up to provide Web3 gaming that is based on Bitcoin and powered by BLIF tokens.
Animoca Brands, a Hong Kong-based gaming software and venture capital firm, has announced agreements with the Opal Foundation and Saakuru Labs in a strategic effort to promote the Web3 industry.
The goal of these partnerships is to increase the visibility of Web3 games and introduce Animoca to the Bitcoin ecosystem.
Animoca Brands is betting on Bitcoin’s future by teaming up with the Opal Foundation to include BLIF tokens, which are the heart of the OPAL Protocol. Darewise and Animoca have joined forces to launch this project, which will use Bitcoin’s infrastructure to build a Web3 environment.
Quickly gaining support, six firms from the Animoca Brands portfolio joined the OPAL Protocol as founding members. In the future, Opal will be the standard for all of Animoca Brands’ Bitcoin-based endeavours. This will make sure that the ecosystem develops steadily and firmly.
Notable companies in the industry have already expressed their intention to be a part of this endeavour, including Magic Eden, Xverse, ALEX, and HorizenLabs. Opal will be announcing more key members in the near future.
Vincent Marty, Darewise’s Chief Product Officer, discussed the possibilities of the OPAL Protocol. The goal of connecting third-party apps that aren’t Bitcoin native to the Bitcoin network is simply one aspect of Opal. The success of native Bitcoin Web3 apps is also a key concern. “BLIF acts as an incentive for everyone in the ecosystem, encouraging cooperation and new ideas,” Marty said.
Beyond the bounds of conventional games and entertainment, the BLIF token provides a whole digital lifestyle. Opal said in its white paper that BLIF “is connected to the basic layer, allowing entry to higher levels of the ecosystem.”
Animoca Brands and Saakuru Labs, creators of the L2 Saakuru Protocol, have strengthened their strategic alliance at the same time. Through the integration of Saakuru’s blockchain technology, this cooperation aims to accelerate the adoption of Web3 gaming. Additionally, it seeks to strengthen the impact of Animoca Brands throughout South-east Asia.
Animoca Brands’ co-founder and executive chairman Yat Siu emphasized the partnership’s strategic significance.
The growing number of tech-savvy consumers in South-east Asia makes that region an ideal front-runner in the Web3 revolution. In order to make the open metaverse a reality via gaming, our relationship with Saakuru Labs is crucial,” Siu said.
The tremendous growth of the Web3 industry is likewise in line with this change. Research and Markets predicted that the value of the Web3 market will increase from $3.19 billion in 2023 to $4.43 billion in 2024, representing a compound annual growth rate (CAGR) of 38.8 percent. Market analysts predict that by 2028, the industry will have grown to $16.3 billion, highlighting its enormous development potential.
In addition, the paper emphasized that the emergence of token economies, scalability solutions, and rising acceptance will propel this expansion.
The survey predicted that there would be gains in technology, inventiveness among developers, collaborations across chains, improvements to edge computing, faster transaction speeds, tokenization, and developments in crypto economics throughout this time.
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