Magic Eden announced its investment in Web3 gaming on July 12, 2022. An article from PR Newswire confirms this announcement, saying the NFT marketplace is gearing towards a new venture with Web3 Games.
Magic Ventures will be the arm that will cater to Magic Eden’s new venture in Web3 gaming. This is also a big milestone for game developers as Web3 gaming will hold the power of guiding users toward blockchain adoption.
Magic Eden will be looking towards onboarding millions of players worldwide. It holds the potential to meet the standards for both players and game developers.
Jack Lu, CEO & Co-Founder of Magic Eden, believes that gaming holds the potential to expand blockchain adoption. The driver of adoption will be to create a better gaming experience alongside the possibility of players now owning NFTs in the form of in-game items.
“The world of gaming is a massive market that has just started to venture into the world of Web3,” Lu said in a recent interview with PRNewswire. “We intend to deepen our relationships with gamers and game developers to champion the future of games on the blockchain.”
Lu further states that he and his team is excited to invest in the next wave of creativity and innovation in Web3 gaming with Magic Ventures.
About Magic Eden
Magic Eden is a decentralized marketplace that helps digital artists and content creators sell their work directly to fans in the form of non-fungible tokens (NFTs). Headquartered in San Francisco, California, the company was founded in 2021 by Ahmad Irshaid, who was later succeeded by now-CEO Jack Lu.
Magic Eden centers its excellence in expression, discovery, and ownership on the digital platform. Their pioneering team are crypto experts that incorporate their knowledge into the gaming industry, making their platform a better option for Blockchain gaming enthusiasts.
The marketplace aims to cater to billions of users worldwide with the help of its newest Web3 gaming ecosystem. It offers a user-friendly interface for NFT processing, benefiting players and game developers.
Affiliation to Web3 gaming goes through a decentralized platform that will make digital assets trading easier and faster. The Web3 gaming venture will place Magic Eden firmly on the crypto gaming landscape, which is a significant milestone for the company.
Other Gaming Ventures
The Web3 gaming investment isn’t the first time Magic Eden has achieved such tremendous success, as they have been continuously dominating the gaming industry for a long time.
In fact, the Eden Games launch has generated over 300,000 mint users. The platform currently has more than 50 games that support NFTs in goods exchanges.
Their March 2022 project called “Eden Games” shows how much potential it holds as it caters to hundreds of thousands of users worldwide. Nevertheless, venturing to other games leads to greater adoption of players to the Solana network and blockchain gaming in general.
With more than 250 projects in Launchpad, Magic Eden dominates as an NFT marketplace. Techcrunch further says that it holds 92% of NFT volume in Solana after spearheading the blockchain platform.
Eden Games’ connection with various developers creates a better ecosystem for NFTs, with game developers offering upgrades by exchanging gifts for NFTs. Working with the world’s best game developers also poses a high market value for Eden Games.
Magic Eden and Magic Ventures aim to dive into the latest technological advancements to provide players with a lasting experience.
Despite the many challenges NFTs and emerging technologies like Blockchain and Web3 has, there is still no denying that sooner or later, large-scale investors are going to push and adopt all these users and turn them into the mainstream.
Millions of players worldwide can potentially on-boarded onto Web 3 Gaming. Magic Eden and Magic Ventures answer this call through this large investment.