TikTok's Former Gaming Unit Head to Launch a Blockchain Startup
Ex-TikTok Gaming Head Launches Meta0
According to a report from Reuters, Jason Fung is now the CEO of Meta0, a startup that allows game developers to build interoperable games on multiple blockchains at the same time instead of having to pick just one.
"Right now, if you look at any developer when they implement NFTs or blockchain in their games, they have to choose a single blockchain, be it Polygon or Solana or Binance Smart Chain. But imagine a more interoperable option," Fund told the publication.
In addition to the two co-founders, Meta0's founding team consists of six members and has already raised its first funding round. It aims to raise more funds through token selling, venture capitalists, and strategic investors. Meanwhile, the details about the other co-founder, the team, and the funding amount, remain unknown.
Investment Opportunities in Blockchain Gaming
Despite the crypto market downturn, blockchain gaming platforms have become an attractive investment opportunity for venture capital firms.
According to investment bank Drake Star Partners, Q1 2022 saw 128 blockchain game companies raise a total of $1.2 billion. Last month, a16z launched a $600 million gaming fund that plans to invest in blockchain games while venture capital firm Sfermion is raising $100 million to invest in blockchain gaming NFTs and in-game items.