Huang said that Magic Eden has a close relationship with its creators, and it has emphasized the building of tools such as the launchpad for creators. Magic Eden intends to continue building out a suite of essential tooling and services for games to enable developers to focus on building gameplay, rather than worrying about blockchain tech. The big blockchain deals of Q1 2022 in games. “I’m looking for new experiences for players using Web3 going forward.”Īlongside the establishment of gaming investments arm Magic Ventures, Eden Games has also finalized partnerships to power marketplaces for games including, but not limited to, Aurory, Genopets, Mini Royale: Nations, Nekoverse, Remnants, Yaku, Halfwish, VBA, and Sugar Realm. “The next big Web3 games are not going to look like traditional games,” he said. He said that while Web3 games cannot compete today with traditional games like Halo or Call of Duty, they still have the potential for growth because of new technologies that they’re tapping. Zhao said he was attracted to Magic Eden and Magic Ventures because it represented the opportunity to build something new at an early stage. The trio’s intimate knowledge of both traditional gaming and NFTs will provide developers the dedicated advisory and operational support needed for go-to-market success, the company said. Choi and Chang are championship-caliber former League of Legends and Fortnite players and, along with Biamonte, have all individually launched NFT projects. Zhao joins Yoonsup Choi, Harrison Chang, and Matt Biamonte, who all have backgrounds in professional gaming and esports. With Magic Ventures, we are excited to invest in the next wave of creativity and innovation in Web3 gaming.” We intend to deepen our relationships with both gamers and game developers alike to champion the future of games on the blockchain. Jack Lu, CEO of Magic Eden, said in a statement, “The world of gaming is a massive market that has just started to venture into the world of Web3. “We believe that gaming will be the next big vertical on Web3 for NFTs, Huang said. Magic Eden has more than 10,000 collections listed, and it has launched nearly 300 projects. Magic Eden has a platform launchpad to market inaugural NFTs, and it has a storefront for secondary NFT trading, where players and other users can sell their NFT collections. Tiffany Huang, head of content and marketing at Magic Eden, said in an interview with GamesBeat that the company accounts for 90% of NFTs sold on Solana, and Magic Eden recently raised $130 million in a funding round that valued Magic Eden at $1.6 billion. The company has competition like Justin Kan’s Fractal, but Magic Eden is the leader in terms of transactions on the Solana blockchain. We’re going to partner with the developers to make them feel comfortable working with us.” It is to support and grow the Web3 ecosystem overall. The purpose of this fund is not to make bets. “This is part of a package bundle to help developers make sure that they can have the best support from us in building their games,” Zhao said. Rather, it wants to help make its partners successful. He did say the company is not shooting for a high rate of return. Zhao said the company isn’t disclosing how big the Magic Ventures fund is. Prior to joining Magic Eden, Zhao was a key member of the business development and investment team for Tencent Games, where he focused on investing in up-and-coming games, acquiring world-class studios, and forming strategic partnerships across the entire Tencent Games portfolio. This fund is just one way to support amazing developers and to help them succeed.” “We are providing end to end solutions, which includes our launchpad for NFT minting, our wallet solutions, game marketplace solutions, and in the future cross-chain solutions. “The fund is only one part of our solution to help developers in the Web3 ecosystem,” said Zhao in an interview with GamesBeat. MetaBeat will bring together metaverse thought leaders to give guidance on how metaverse technology will transform the way all industries communicate and do business on October 3-4 in San Francisco, CA.
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