• Magic Eden Ventures has invested in eleven Web3 game studios.
• The eleven studios range from Web3 focused developers to traditional gaming startups.
• The partnerships will offer beneficiaries access to partner networks and launchpad capabilities, among other features.
Magic Eden Ventures Invests in 11 Web3 Game Studios
Magic Eden Ventures, the venture arm of cross-chain NFT platform Magic Eden, has announced investments in 11 Web3 game studios. The eleven studios include Epic League, MatchDay, Blockstars, Bunch, Bravo Ready, Honeyland, Intella X, and Stella Fantasy. Magic Eden launched its venture arm in July 2022 with a mission to help the gaming industry adopt Web3 technologies.
The Benefits of Investing
The investments are a continuation of its commitment to the development and adoption of Web3 gaming and come just days after the platform expanded to the Polygon blockchain and hired Chris Akhavan as Magic Eden’s Chief Gaming Officer. The partnerships will offer beneficiaries access to partner networks and launchpad capabilities, among other features that can help them achieve long-term success via monetization with access to in-game marketplace support and fan engagement within the broader Web3 ecosystem key drivers of adoption.
Akhavan’s Thoughts on Supporting Studios
Commenting on the support being extended by NFT platform Magic Eden towards these 11 studios Chris Akhavan expressed his belief that these experienced game studios building web 3 enabled games were pioneering something special – fun games with digital asset ownership and powerful economies that enable communities and creators to deepen their connection with the games they love. He added that it was a powerful combination which Magic Eden wanted to help those game studios achieve success through their venture arm.
The Goal is Adoption
The goal for Magic Eden is for all these investments made towards their venture arm is for mainstream adoption of web 3 technology into gaming industry which would be possible if experienced game developers work together with experienced financial investors like Magic Edens Venture Arm for further growth & evolution of this sector .
Conclusion
Through investments from its venture arm ,Magic Edens aims go bring more attention & focus on web 3 enabled games while helping out those game studio’s gain access & benefit from partner networks ,launch pad capabilities & other such features which can be beneficial for them in achieving long term success when it comes down monetization or fan engagement within broader web 3 ecosystem or any such key driver related to adoption .
