• Magic Eden Ventures has invested in 11 web3 gaming startups including MatchDay, Blockstars, Epic League, and others.
• The projects are part of Magic Eden’s commitment to promoting the growth of the Web3 gaming industry and fostering engagement between game developers and gamers.
• Last month Magic Eden was embroiled in controversy for selling unverified NFTs on its platform.
Magic Eden Ventures Investing in Web3 Gaming Projects
Magic Eden Ventures is the VC arm of cross-chain NFT marketplace Magic Eden and has recently invested in 11 blockchain gaming studios as part of its commitment to promote the growth of the Web3 gaming industry. These projects include Intella, X, Blockstars, Epic League and more from traditional gaming backgrounds. Chief Gaming Officer at Magic Eden Chris Akhavan said that experienced game studios building Web3-enabled games are „pioneering something special – fun games with digital asset ownership and powerful economics“.
Promoting Growth in the Blockchain Gaming Ecosystem
Magic Eden’s launchpad platform has helped boost visibility for over 60 gaming projects so far by orchestrating token reward programs with them. This is intended to foster engagement between developers and gamers alike. The Solana-powered NFT marketplace has seen some success despite workforce downsizing due to crypto winter but still remains embroiled in controversies such as last month’s unverified NFT sales scandal.
The 11 blockchain gaming startups investee by Magic Eden Ventures are:
• Epic League
Magic Edens Commitment To Blockchain Gaming Industry
As part of their commitment to promoting the growth of the blockchain gaming industry, Magic Edens have been working with these projects to provide token rewards programs which will foster engagement between game developers and gamers alike. Despite facing a prolonged crypto winter which resulted in a downsizing of their workforce, they have still managed to remain successful within the web3 space.
Controversy Surrounding Unverified NFT Sales
Recently however, there have been some controversies surrounding Magic Edens such as last months scandal involving unverified NFT sales on their platform which caused widespread criticism from both players and investors alike. This ultimately shows that while investment into blockchain based technology is promising for an emerging industry such as this one it does not come without its own set of unique challenges which need to be addressed going forward if they want to continue being successful within this sector.