The venture arm of the cross-chain NFT platform Magic Eden, has made investments in 11 web3 gaming studios.
In order to speed up the development of the blockchain gaming ecosystem, Magic Eden Ventures has invested in 11 web3 gaming firms, including MatchDay, Blockstars, Epic League, and others.
As part of its dedication to fostering the expansion of the Web3 gaming industry, the venture capital division of cross-chain NFT marketplace, has invested in 11 blockchain gaming companies.
The NFT platform has invested in a number of blockchain gaming projects, including Intella, X, Blockstars, Epic League, and several others with traditional gaming roots. Magic Eden’s Chief Gaming Officer, Chris Akhavan said:
“Experienced game studios building Web3-enabled games are pioneering something special – fun games with digital asset ownership and powerful economics that enable communities and creators to deepen their connection with the games they love.”
Due to the protracted crypto winter, the NFT platform recently reduced its staff, yet the project has remained competitive in the Web3 game market.
Magic Eden asserts that its web3 launchpad platform has aided in increasing the awareness of over 60 gaming projects so far, and it is collaborating with these projects to organize token reward schemes that will encourage interaction between game developers and players.
Notwithstanding its successes, the Solana-powered NFT market has recently been at the center of controversy. The NFT platform received criticism last month for offering NFTs that were not vetted on its site.
