Latest Web3 News

Horizontal Banner
Animoca Brands
6 Days ago
Animoca Brands Partners with OPAL To Advance Web3 Sector
author image

Animoca Brands, a Hong Kong-based game software and venture capital company, has announced strategic partnerships with the Opal Foundation and Saakuru Labs to advance the Web3 sector and expand Web3 gaming.

The collaborations with the Opal Foundation aim to integrate BLIF tokens, the essence of the OPAL Protocol, into Animoca Brands’ Bitcoin-based projects. This initiative, powered by the collaboration between Darewise and Animoca, aims to establish a Web3 ecosystem atop Bitcoin’s network.

Six Animoca Brands portfolio companies have already become genesis members of the OPAL Protocol, and all of the company’s Bitcoin-based projects will align with Opal. Key industry players like Magic Eden, Xverse, ALEX, and HorizenLabs have already pledged their participation in the project, and Opal will announce additional core members in the coming days.

Vincent Marty, Chief Product Officer at Darewise, said: “Opal is not just about linking non-native Bitcoin applications to the Bitcoin community. It’s also about empowering native Bitcoin Web3 applications to thrive. BLIF serves as a universal incentive, fostering collaboration and innovation across the ecosystem.”

BLIF token offers a digital experience that goes beyond traditional gaming and entertainment. According to the litepaper, Opal explains that BLIF is built on the foundational layer, allowing access to higher levels of the ecosystem. In addition, Animoca Brands has formed a strategic partnership with Saakuru Labs, the developers behind the L2 Saakuru Protocol. This partnership aims to increase the adoption of Web3 gaming by integrating Saakuru’s blockchain technology while also strengthening Animoca Brands’ presence in Southeast Asia.

Yat Siu, the co-founder and executive chairman of Animoca Brands, emphasized the importance of this collaboration. “The Southeast Asian market, with its growing tech-savvy population, is poised to lead the Web3 revolution. Our partnership with Saakuru Labs is crucial in catalyzing this shift, making the open metaverse a reality through gaming,” Siu said.

This move also aligns with the significant growth of the Web3 market. According to Research and Markets, the Web3 market is projected to grow from $3.19 billion in 2023 to $4.43 billion in 2024, with a CAGR of 38.8%. The potential for further growth is immense, with the market expected to reach $16.3 billion by 2028.

...
Read More
Web4
9 Days ago
Report Says Europe Can Play Potential Role in Web4
author image

LSE Consulting, a firm based in the London School of Economics and Political Science (LSE), recently released a report that outlines a potential plan for Europe to become a dominant player in the emerging Web 4.0 sector. 

The report suggests that the formation of an industrial conglomerate similar to Airbus, dedicated to fostering innovation and growth in the metaverse, would be Europe’s best strategy to compete with the U.S., China, and other global sector leaders, and to exploit Europe’s curEurope’shnological and economic potential potentially. 

Airbus is a multinational conglomerate created in 2000 when three aerospace companies from France, Germany, and Spain merged. Since then, it has been the world’s leading manufacturer of airliners and helicopters. 

The report argued that Airbus’s cross-border incorporation and focus on ensuring Europe’s dominance in the global aerospace market makes it relevant to the metaverse market.

According to the report, which suggested adopting an Airbus model for the metaverse could help position the EU at the top of the Web 4.0 hierarchy, an immersive industrial cluster will contribute to specialized internet engineering expertise in Europe. While national and regional governments must support engineering and research education programs more broadly, immersive technologies can also make these programs more attractive.

The report included several case studies from well-known European companies such as BMW, Ikea, Bosch Sensortec GmbH, Ericsson, and STMicroelectronics. These companies have successfully explored metaverse technologies, and based on their success, LSE Consulting has made three recommendations to advance the metaverse sector in Europe.

Firstly, the report suggests that an international conglomerate, similar to the Airbus model, should be formed to encourage European innovation in the metaverse. This is necessary to compete with other countries at a global level. Secondly, LSE Consulting recommends prioritizing skills supply training to ensure the European workforce can innovate in the metaverse. 

Finally, the report called for government support in developing innovative cross-border solutions and standards for adoption to tackle emerging challenges. 

...
Read More
Planetquest
19 Days ago
Hollywood, Gaming Stars Launch Web3 Game in UAE
author image

A group of renowned Hollywood and gaming experts has collaborated to form Galactic Entertainment Publishing, a high-quality Web3 games publisher in the United Arab Emirates. This is the first branch of the Galactic Group parent company. 

Their initial project, PlanetQuest, has been in active development since 2022. Loren Roosendaal, the founder of PlanetQuest and CEO of Galactic Entertainment, informed Cointelegraph that despite the game not yet being launched, it has already acquired a large user base: 

“PlanetQuest passport holders account for over 300,000 connected wallets, over 200,000 of which hold one or more PlanetQuest NFTs.”

The team behind PlanetQuest is made up of former employees from Disney, Warner Bros., Activision-Blizzard, and Epic. They have previously worked on several notable franchises, including The Batman, Avengers, Blade Runner, Fortnite, Call of Duty, and Star Wars: Jedi Survivor.

The firm’s chief creative officer, Jon McCoy, who has extensive experience working on AAA Hollywood blockbusters, stated that his previous experiences could differ from his work with Galactic Group.

“Naturally no first attempt at something new is perfect, but it’s been amazing to create a sci-fi universe with the fans in a way that’s never been attempted before. I’ve gotten to fulfill a lot of my childhood dreams, working on Star Wars, Blade Runner and Marvel movies to name a few, but there’s little that compares to being able to interact and build with the fans from day one,” McCoy noted.

The company’s first title, PlanetQuest, has been described as existing in a “Star Wars-like” world entire of assets that players can own and trade. Everything from ships to entire planets can be copped as digital assets that, ostensibly, players can keep for their game use or sell/trade to other players for native currency.

According to a VentureBeat report, Galactic plans to launch tie-in media for PlanetQuest, including novels, comic books, and another game to be revealed later.

...
Read More
TikTok in Web3 Gaming
20 Days ago
TikTok Delves into Web3 Gaming, AI
author image

BytePlus, the enterprise technology division of ByteDance, the parent company of TikTok, has announced its entry into the Web3 space through a strategic partnership with Mysten Labs, the developer of the Sui layer-1 blockchain.

As per the statement issued on April 17, BytePlus plans to leverage its expertise and experience in artificial intelligence (AI) and data warehousing to support the Sui ecosystem, specifically focusing on Web3 gaming and SocialFi projects.

Under this partnership, BytePlus will combine its advanced solutions, including ByteHouse, a cloud-native data warehouse, with Sui’s full-node data.

According to the announcement, integrating BytePlus could boost Sui’s analytics capabilities by enabling infinite scalability and real-time data processing.

Mysten Labs, on the other hand, will benefit from ByteHouse’s high-performance, low-maintenance properties, which could ultimately accelerate data delivery for users on the Sui network.

Evan Cheng, the co-founder and CEO of Mysten Labs, said the partnership could “revolutionize” data analytics in the Web3 sphere.
“Integrating cutting-edge AI and visual algorithms into Sui signifies a leap forward for user experience within Web3 gaming platforms and SocialFi projects.”

ByteDance has been interested in exploring Web3 technology for a while now. In 2019, the company established a joint venture with a state-owned Chinese media group to develop business arms focused on blockchain and AI.

In June 2020, ByteDance applied for a virtual banking license in Singapore to enter the digital finance scene.

On the other hand, Sui is a newer layer-1 network that Mysten Labs introduced in March 2022. However, the ecosystem has rapidly developed in recent months with various new partnerships.

In February, the Sui Foundation partnered with a university in the United Arab Emirates to launch a blockchain academy. A month later, it was revealed that the Greek stock exchange ATHEX would use Sui’s blockchain ecosystem for its new fundraising mechanism.

...
Read More