Magic Eden’s venture arm invests in 11 web3 gaming projects 

Magic Eden Ventures has invested in 11 web3 gaming startups including MatchDay, Blockstars, Epic League, and others, as part of its commitment to accelerating the growth of the blockchain gaming ecosystem.

Magic Eden Ventures, the VC arm of cross-chain NFT marketplace Magic Eden, has invested in 11 blockchain gaming studios, as part of its commitment to promoting the growth of the Web3 gaming industry.

The blockchain gaming projects backed by Magic Eden Ventures include Intella, X, Blockstars, Epic League, and several others from traditional gaming backgrounds. 

“Experienced game studios building Web3-enabled games are pioneering something special – fun games with digital asset ownership and powerful economics that enable communities and creators to deepen their connection with the games they love.”

Chris Akhavan, Chief Gaming Officer at Magic Eden

While Magic Eden recently downsized its workforce due to the prolonged crypto winter, the project has continued to hold its own in the Web3 gaming space.

Magic Eden claims its web3 launchpad platform has helped in boosting the visibility of over 60 gaming projects so far and it’s working with these projects to orchestrate token reward programs that will foster engagement between game developers and gamers.

Despite its successes, the Solana-powered NFT marketplace has been embroiled in controversies in recent times. Last month, Magic Eden came under fire for selling unverified NFTs on its platform.