Solana NFT Marketplace Magic Eden launches gaming business arm

Magic Eden is the most important NFT market in the Solana ecosystem, and now carry the money box which is valuable in early childhood as a crypto unicorn.

Now, we see how the industry is spending some of that money: it has created a game-centric investment arm.

Today, the firm unveiled Magic Ventures, a business investment arm that is fully invested System3 game play. To fulfill that mission, the company hired Tony Zhao – also the Chinese game developer Tencent – as the new head of sports books.

Zhao said Decrypt Magic Ventures’s investment will be “clean in nature” and provide support to developers of NFT-powered video games, rather than approaching investors with the intention of returning the money.

“We don’t think it’s coming back – never and never,” Zhao said. “The comparison of our meeting, huh? We really want to be traveling companions for these developers. “

When Magic Ventures signs up to game developers, they will enter a Magic Eden ecosystem that offers an advertisement for the first sale of new NFTs, as well as a second market for permanent sales. Solana’s market right now order 90% or more of Solana’s entire NFT market share. Zhao said the goal is to help gamers integrate into the Web3 ecosystem.

“Developers can look at one thing that they know how to do, which is to build great games,” he explains. “We’re going to help them take care of all the Web3 stuff and help them stay on top of the ecosystem.”

Zhao said Magic Ventures has already made a number of investments with more along the way, but will not reveal the programs or startups that are included.

He added that there was no fixed estimate of how much money would be invested in projects and that the amount of investment was “too small” due to the nature of the project.

“We are not here to fund the entire development [of games]”he said.” We don’t have value -added investment – these all -inclusive systems and NFT knowledge that no one in the market can provide. “

Game developers join Web3

With a professional hand, the Magic Eden division’s Eden Games has announced that it has reached agreements with the makers of Solana’s games — including ʻAurory, Mini Royale: Kingdoms, and Genopets — control the in -game NFT markets for everyone. Once released, players can buy and sell NFTs in each game without having to go to an external market.

Designed to be an easy process for gamers, especially those who don’t know how to manage a crypto wallet and personal belongings. Zhao said the system has been given to developers so they don’t have to build extensions from the past.

NFTs are blockchain symbols that represent the ownership of an object, such as a graphic designer, collectors, and video game developers. In the game, NFTs can display things like unique weapon settings, avatar types, and customizable virtual terrain.

As mentioned, Magic Eden has become a crypto unicorn with a value of over $ 1 billion. The hold raised $ 130 million last month to a $ 1.6 billion investment, nine months after the startup was founded.

The NFT market plans to support new blockchain platforms in the future outside of Solana, although the specific chains have not been announced.

Magic Eden takes over the NFT tournament

Magic Eden’s major expansion to the Web3 game is to compete directly with Fractal, a store Solana NFT related games co -founded by Justin Kan, who is also the founder of video game streaming platform Twitch.

Fractal only adds gameplay properties, while Magic Eden supports graphics and other NFT properties.

Zhao said Magic Eden and Fractal are focusing on the development of the Web3 game, but he thinks Magic Eden will provide a better solution to start and support related games. to Solana — and she hopes the consequences will restore her confidence.

“We both want to improve the ecosystem. For game developers, we show them the data, right? It’s up to them to decide who to choose last, “he said.” The results show the developers there’s a good reason to join us at Fractal. “