Magic Eden Ventures Backs 11 Web3 Gaming Studios
The venture arm of the cross-chain NFT platform Magic Eden, Magic Eden Ventures, has made investments in 11 web3 gaming studios. These investments are intended to propel the web3 gaming industry forward. The company hopes that this investment will help games launch NFT projects. Through in-game marketplaces, it also attracts and engages users while supporting gaming infrastructure.
Magic Eden Ventures has maintained close relationships with creative game studios with long-term plans for web3 gaming since its inception in July 2022. The studios range from those with a traditional gaming background to those who are web3 native developers.
Magic Eden’s Launchpad product has aided the success of over 60 game mint launches on Ethereum, Polygon, and Solana. Because of its 1.5 million daily user sessions and 15-minute average user session length, it provides unrivalled exposure to gaming partners.
The company’s full suite of services and products for creators can help with engagement and monetization across the web3 ecosystem. Magic Eden Ventures also supports game infrastructure by enabling game developers to run their own in-game marketplaces using Magic Eden’s APIs. Also, allowing players to buy and sell virtual goods without ever leaving the game’s ecosystem.
The company has begun testing rewards tokens on its Rewards Hub. However, it enables game developers to interact with both new and experienced users. Intella X, Blockstars, MatchDay, and Epic League are among the 11 studios that Magic Eden Ventures has supported.
(With inputs from Shikha Singh)
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