Magic Eden invests in 11 Web3 gaming studios

• Magic Eden Ventures has invested in eleven Web3 game studios.
• The 11 studios include Epic League, MatchDay, Blockstars, Bunch, Bravo Ready, Honeyland, Intella X, and Stella Fantasy.
• Magic Eden launched its venture arm in July 2022.

Magic Eden Ventures, the venture arm of cross-chain NFT platform Magic Eden, has announced investments in 11 Web3 game studios. The eleven studios range from Web3-focused developers to traditional gaming startups, Magic Eden said in a blog post.

Magic Eden to help game studios launch NFTs

In the announcement on 23 February, Magic Eden said the investments are a continuation of its commitment to the development and adoption of Web3 gaming. The mission comes a few days after the platform expanded to the Polygon blockchain and hired Chris Akhavan as Magic Eden’s Chief Gaming Officer.

Launched in July 2022, the unit is backing Epic League, MatchDay, Blockstars, Bunch, Bravo Ready, Honeyland, Intella X, Stella Fantasy, Rooniverse, Moonveil (STEALTH), Strider and Lucky Kat. 

The partnerships will offer beneficiaries access to partner networks and launchpad capabilities, among other features.

Akhavan commented on the support the NFT platform was extending to the 11 studios, noting that the gaming industry is still an emerging sector that could yet see massive growth.

“Experienced game studios building Web3 enabled games are pioneering something special – fun games with digital asset ownership and powerful economies that enable communities and creators to deepen their connection with the games they love. It’s a powerful combination,” he added.

According to him, Magic Eden wants to help these game studios “achieve long-term success,” through its venture arm. This includes via monetization, with access to in-game marketplace support and fan engagement within the broader Web3 ecosystem key drivers of adoption.