Magic Eden founds the Magic Ventures investment arm, focusing on world wide web games3

On July twelve, 2022, the NFT industry platform on Solana, Magic Eden, announced the establishment of an investment fund Magic Ventures, with the aim of focusing on the world wide web gaming segment3.

Magic Eden is the biggest NFT industry in the Solana network. In June 2022, Magic Eden raised $ 130 million, bringing the complete valuation to $ one.six billion.

Continuing the improvement momentum, to date, July twelve, 2022, Magic Eden has announced the creation of a Magic Ventures investment arm, focusing on web3 video games and web3 infrastructure building corporations.

Magic Eden co-founder and CEO Jack Lu shared:

“Games are a massive new industry and are just commencing to enter the globe of the web3.

We appear forward to strengthening relationships with the two gamers and game developers to safe the long term of blockchain video games. “

Focusing on investing in web3 video games, Magic Eden has also appointed Tony Zhao to head Magic Ventures. It is identified that Zhao is from Tencent Games, plays a part in game studio acquisitions and builds relationships with partners in the Tencent Games portfolio.

In addition to Zhao, Magic Eden also contacted Yoonsup Choi, Harrison Chang and Matt Biamonte. The trio has gaming and NFT encounter, assisting to advise and help go-to-industry approaches for gaming studios.

It is unclear how a lot dollars Magic Eden intends to invest on this investment arm. And there is nevertheless no facts as to whether or not Magic Ventures has invested in any tasks.

Hence, Magic Eden is the newest identify to present its ambition to produce in the area of world wide web games3. Before that, Immutable raised a $ 500 million fund, Griffin Gaming Partners raised $ 750 million, or FTX launched a $ two billion investment fund, all centered on blockchain and world wide web games3, displaying the huge possible of this. area. .

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