Magic Eden Ventures Backs 11 Web3 Gaming Studios

Magic Eden Ventures, the venture arm of the cross-chain NFT platform Magic Eden, has made investments in 11 web3 gaming studios. These investments aim to advance the web3 gaming sector. With this investment, the company hopes to assist games in launching NFT projects. It also attracts and engages users while supporting gaming infrastructure through in-game marketplaces.

Magic Eden working with Innovative Game studio

Since its founding in July 2022, Magic Eden Ventures has maintained close relationships with creative game studios that have long-term plans for web3 gaming. The studios range from those with a background in traditional gaming to those who are web3 native developers.

Through its Launchpad product, Magic Eden has promoted the success of more than 60 game mint launches on Ethereum, Polygon, and Solana. It offers unmatched exposure to gaming partners thanks to its 1.5 million daily user sessions and 15-minute average user session length.

Company planning reward system on its Rewards Hub

The company’s complete line of services and products for creators can facilitate engagement and monetization across the web3 ecosystem. Using Magic Eden’s APIs, Magic Eden Ventures also supports the infrastructure of games by enabling game developers to run their own in-game marketplaces. Also, enabling players to buy and sell virtual goods without ever leaving the game’s ecosystem.

The business has started testing rewards tokens on its Rewards Hub. However, it allows game developers to interact with both new and seasoned users. Among the 11 studios that Magic Eden Ventures has supported are Intella X, Blockstars, MatchDay, and Epic League.

Chris Akhavan supports Emerging Game Studios

The company recently expanded to the polygon Blockchain, and Chris Akhavan was appointed Chief Gaming Officer. This demonstrates the company’s commitment to propelling the web3 gaming industry forward. According to Akhavan, the company is only at the beginning of what blockchain gaming will develop into. He expressed excitement about continuing to support and aid in the long-term success of new game development studios.

Also Read: Defi Kingdoms: An Introduction To The Play-To-Earn Defi Game

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Sachin Goswami

Sachin is a writer and journalist with over three years of working experience with different major media houses. He is a fintech enthusiast who mainly reports on Web3, NFT, and Metaverse. When he is not working, you can find him reading thrillers and watching world cinema.

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