Magic Eden, the leading destination for NFTs, announced the launch of Magic Ventures, a venture arm that will focus on investing in Web3 Games. Alongside the launch of Magic Ventures, the Company also announced the expansion of its gaming division, Eden Games, through the onboarding of several key hires and new partnerships.
Web3 games will be an on-ramp for millions of users to blockchain, but gaming and metaverse projects remain in their nascent stage. The launch of Magic Ventures and the appointment of Tony Zhao as its Head of Gaming Investments will allow Magic Eden to invest in promising games and gaming infrastructure, which will bolster the growth of Web3 gaming. Prior to joining Magic Eden, Tony was a key member of the Business Development and Investment team for Tencent Games, where he focused on investing in up-and-coming games, acquiring world-class studios, and forming strategic partnerships across the entire Tencent Games portfolio.
Jack Lu, CEO of Magic Eden, commented on today’s news, “The world of gaming is a massive market that has just started to venture into the world of Web3. We intend to deepen our relationships with both gamers and game developers alike to champion the future of games on the blockchain. With Magic Ventures, we are excited to invest in the next wave of creativity and innovation in Web3 gaming.”
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