Razer dives into web3 gaming with zVentures new Incubator
Gaming hardware titan Razer is expanding its horizons with the launch of zVentures web3 Incubator, aiming to bring web3-integrated gaming experiences to mainstream audiences by supporting promising developers in the sector.
Gaming hardware powerhouse Razer is turning its attention towards the web3 gaming sector, with plans to finance projects in this space through its newly established zVentures web3 Incubator (ZW3I).
The company revealed its intentions, emphasizing the goal of promoting web3-integrated games to mainstream players by selecting developers who have a proven history of creating successful games for its incubator initiative.
In an email exchange, Lawrence Lin, Razer’s director of blockchain, explained that the incubator’s primary focus is to provide marketing support to projects. The plan is to incubate up to 36 projects, and despite being a predominantly PC gaming-centered company, Razer will not exclude mobile games from its program.
Razer, a company recognized for manufacturing gaming laptops, headsets, and mice, acknowledged that the first wave of web3 games failed to captivate mainstream audiences. The company believes that exploring gamers’ motivations and behaviors is essential for the industry to make progress.
Lin shared that many blockchain games currently prioritize the incorporation of blockchain technology over offering engaging and entertaining gameplay experiences, resulting in a deficiency of player interest and retention.
He underscored that successful games, whether web2 or web3, should prioritize immersive and engaging gameplay.
These perspectives align with the opinions of numerous game developers who claim that early crypto games overly emphasized financial factors at the expense of captivating visuals and rich gameplay.
Certain individuals in the growing web3 gaming sector have dismissed terms like “play-to-earn” and “GameFi” that highlight financial gains alongside enjoyment.
Lin asserted that an outstanding gaming experience is the most important element for any successful game launch. With the support of blockchain technologies and companies possessing strong gaming expertise, he believes web3 will revolutionize the gaming experience for everyone.
Regarding the funds reserved for ZW3I, Lin stated that Razer, being a private company, cannot reveal financial details. However, it is noteworthy that zVentures began as a $30 million fund in 2016.
While Razer’s venture capital pursuits are not a recent development, the company is now concentrating on crypto and web3.
zVentures has already invested in web3 gaming enterprise Animoca Brands, the publisher of The Sandbox, and an investor in countless web3 startups, as well as crypto platform Finblox and DeFi company Coinomo, among others.