Solana-Based NFT Marketplace Magic Eden Unveils Web3-Focused Venture Capital Fund

Distinguished NFT market – Magic Eden – has introduced the launch of a brand new enterprise capital fund that can focus totally on investments in Web3 video games.

  • In accordance with the official press release, with the brand new gaming investments arm, referred to as Magic Ventures, the corporate expects to faucet the “subsequent wave of creativity and innovation in Web3 gaming.”
  • Tony Zhao, a former key member of Tencent Video games, has been appointed as its Head of Gaming Investments
  • Alongside the launch of the enterprise arm, Magic Eden additionally introduced the growth of its gaming division. Dubbed “Eden Video games,” the San Francisco-based NFT market will now fund its personal video games.
  • As a part of its growth plans, Magic Eden has revealed onboarded new gaming leaders and solid new partnerships with recreation builders.
  • A few of its finalized partnerships embrace Aurory, Genopets, Mini Royale: Nations, Nekoverse, Remnants, Yaku, Halfwish, VBA, and Sugar Realm.
  • The CEO of the corporate, Jack Lu, commented,

“The world of gaming is an enormous market that has simply began to enterprise into the world of Web3. We intend to deepen {our relationships} with each players and recreation builders alike to champion the way forward for video games on the blockchain.”

  • The Solana-based NFT market notched a spot within the unicorn’s league in lower than a yr since its inception.
  • Simply final month, Magic Eden raised $130 million in Serial B spherical of funding that was co-led by Electrical Capital and Greylock, which pushed its valuation to $1.6 billion.
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