Animoka Brands has entered the Bitcoin ecosystem with a new partnership.

Animoka Brands, a Hong Kong-based game software and venture capital firm, has announced a partnership with Opal Foundation and Sakura Labs in a strategic move to advance the Web3 sector.

These partnerships aim to expand Animoka into the Bitcoin ecosystem and the expansion of Web3 Games.

Animoka brands with a strategic partnership for Web 3 growth

In partnership with the Opal Foundation, Animoka Brands embraces the potential of Bitcoin by integrating BLIF tokens, the essence of the OPAL protocol. This initiative is powered by Daraviz and Animoka collaboration and aims to establish a Web3 ecosystem on the Bitcoin network.

This work quickly gained support as six Animoka Brands portfolio companies became members of the OPAL Protocol Genesis. Looking ahead, all Animoca brands of Bitcoin-based projects will be compatible with Opal. This step ensures intensive and progressive development in the ecosystem.

Key industry players such as Magic Eden, Xverse, ALEX and HorizenLabs have pledged to participate in this project. In the coming days, Opal will announce more core members.

Vincent Marty, Chief Product Officer at Daraviz, shared insights into the potential of the OPAL protocol.

“Opal is not just about connecting non-native Bitcoin apps to the Bitcoin community. It's also enabling native Bitcoin Web3 applications to thrive. BLIF serves as a universal catalyst that encourages collaboration and innovation across ecosystems,” explained Marty.

BLIF token transcends traditional gaming and entertainment boundaries to provide a comprehensive digital life experience. According to the information in the letter, Opal explains that BLIF is “bonded to the base layer, which allows access to high ecological standards.”

Read more: Top 9 Web3 projects that are revolutionizing the industry

At the same time, Animoka Brands has strengthened its strategic partnership with Sakuru Labs, the developers behind the L2 Saakuru protocol. This alliance intends to increase the adoption of Web3 games by integrating Sakura's blockchain technology. It also aims to strengthen the influence of Animoka brands in Southeast Asia.

Yat Siu, Co-Founder and CEO of Animoka Brands highlighted the strategic importance of this collaboration.

“The South-East Asian market, with its growing tech-savvy demographic, is poised to lead the Web3 revolution. “Our partnership with Sakura Labs is critical to making this transition a reality in gaming,” Siu said.

This move also coincides with the remarkable expansion of the Web3 market. According to the report, Research and Markets forecasts that the Web3 market value will grow from $3.19 billion in 2023 to $4.43 billion in 2024, reflecting a CAGR of 38.8%. With the market expected to reach $16.3 billion by 2028, the potential for further growth is huge.

Read More: Top 5 Web3 Use Cases: Where Web3 Is, Where It's Going

The report also notes that this growth is driven by adoption, scalability solutions and the evolution of token economies.

“Key trends expected during this period include technological advancements, developer innovations, cross-chain partnerships, edge computing improvements, accelerated transaction speeds, tokenization, and advances in crypto economics,” the report said.