Magic Eden Ventures, the venture arm of cross-chain NFT platform Magic Eden, has invested in 11 web3 gaming studios to advance the web3 gaming industry.
The company aims to help games launch NFT projects, attract and engage users, and support gaming infrastructure through in-game marketplaces.
Magic Eden Ventures has been working closely with innovative game studios with long-term visions for web3 gaming since its launch in July 2022. The studios range from web3 native developers to studios from traditional gaming backgrounds.
Magic Eden has championed success for over 60 game mint launches across Ethereum, Polygon, and Solana through its Launchpad product. It has 1.5 million daily user sessions and average user sessions of 15 minutes, providing unparalleled exposure to gaming partners.
The company’s full suite of creator products and services can enable monetization and engagement across the web3 ecosystem.
Magic Eden Ventures also supports games’ infrastructure by enabling game developers to power their own in-game marketplaces using Magic Eden’s APIs, allowing users to transact on digital collectibles without leaving the game’s ecosystem.
The company has begun piloting rewards tokens on its Rewards Hub, which will enable game developers to engage with new and existing users.
The 11 studios that Magic Eden Ventures has backed include MatchDay, Blockstars, Epic League, and Intella X, among others.
Magic Eden’s recent expansion to the Polygon blockchain and hiring of Chris Akhavan as Chief Gaming Officer shows the company’s continued commitment to pushing the web3 gaming industry forward.
Akhavan stated that the company is still at the beginning of what blockchain gaming will become, and he looks forward to continuing to support emerging game studios and helping them achieve long-term success.
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