Solana NFT Marketplace Magic Eden launches gaming venture arm
Magic Eden, Supreme Solana NFT Marketplace has launched Web 3 Gaming Investment Branch.
Magic Ventures aims to be a strategic investment in Web 3 and onboard developers through the infrastructure of Magic Eden.
Magic Eden is the biggest NFT In the market Solana Ecosystem and recently Raised war funds Who valued young startups as crypto unicorns.
Now we know how the company spends some of that cash: it has launched a gaming-focused investment branch.
Today, the firm unveiled Magic Ventures, an enterprise investment arm with a special focus Web 3 Gaming To pursue that mission, the company has appointed Tony Zhao – former Chinese gaming company Tencent – as the new head of gaming investment.
Zhao said Decrypt The investment in Magic Ventures will be of a “purely strategic nature” and will support developers of NFT-powered video games rather than investing in anticipation of a return on funding.
“We don’t think about returns कधी never and never will,” Zhao said. “It’s just to align our partnership together, right? We really want to be a go-to partner for these developers. ”
When Magic Ventures signs up with the game developer, they will enter the Magic Eden ecosystem that offers a launchpad for the primary sale of the new NFT as well as a secondary marketplace for current sales. Currently located in Solana market 90% or more commands Of Solana’s entire NFT market share. Zhao said the goal is to help ease the access of game makers to the Web 3 ecosystem.
“Developers can focus on one thing they know how to do, which is to create great games,” he explained. “We’ll help them take care of all the Web3 components and help them onboard the ecosystem.”
Zhao said Magic Ventures has already made some investments in it, but would not disclose which projects or startups they have invested in.
He added that there is no fixed number in terms of the total dollar amount to be invested in projects and that the size of a particular investment is “very small” due to its strategic nature.
“We are not here to fund the whole development [of games]”Our value-added is not capital – it’s all the infrastructure and NFT experience that no one else in the market can offer,” he said.
Game developers visit Web3
With Venture Arms, Magic Eden’s Eden Games division announced that it has entered into agreements with the makers of several Solana games. Arori, Mini Royal: Nations, And Genopets— to power the in-game NFT marketplace for everyone. Once launched, players will be able to buy and sell NFT in every game without having to go to an outside market.
It is designed as an integral process for players, especially for those who do not already know how to handle crypto wallets and self-custody assets. Zhao said developers are provided with infrastructure so they don’t have to build integrations from scratch.
NFTs are blockchain tokens that represent the ownership of an object, such as artwork, collectibles, and interactive video game items. In the gaming space, NFTs can represent things like unique weapon designs, character avatars, and customizable virtual land plots.
As mentioned, Magic Eden has recently become a crypto unicorn with a valuation of over $ 1 billion. Firm Raised 130 million last month At ंक 1.6 billion, just nine months after the startup was founded.
NFT Marketplace plans to support additional blockchain platforms beyond Solana in the future, although no specific chain has been announced.
Magic Eden takes the NFT competition
Magic Eden’s increased focus on Web3 gaming competes directly with Fractal, a Gaming-focused Solana NFT Marketplace Justin Kahn, co-founder of the video game streaming platform Twitch.
Fractal not only focuses on interactive gaming assets, but also supports Magic Eden profile pictures and other types of NFT assets.
Zhao said that both Magic Eden and Fractal focus on expanding the Web3 gaming space, but he believes that Magic Eden offers more comprehensive solutions to launch and support Solana-based games — and suggested that the results build their confidence. .
“We both want to expand the ecosystem. For game developers, we show them data, right? In the end, they have to decide who to choose, “he said. “The results suggest developers have a good reason to partner with us instead of fractals.”
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