On July 5, Jason Fung, who used to be in charge of TikTok’s gaming division, said that he was leaving the company to start Meta0, a company that makes blockchain video games.
Fung said that he left “his comfortable corporate life” at TikTok to launch Meta0 and take a “huge risk.” But as an enterprise tech executive who had worked for many years for big game companies, he wanted to give video game developers new ways to solve problems.
According to a press release shared with Cryptopotato, Jason Fung will have a lot of responsibilities. One of these is to grow Meta0 as a whole ecosystem of game developers, channel partners, and L1/L2 blockchains running on Meta0 as a Layer-0 protocol, which is a lot like what Polkadot wants to be. He will also be in charge of partnerships, campaigns to raise money, and other important strategic decisions.
The blockchain gaming industry needs more interoperability.
Fung said that the goal of Meta0 is to make it easier for blockchain networks to talk to each other. This way, developers don’t have to choose only a small number of blockchains to use for their projects.
Right now, if you look at any game developer who uses NFTs or blockchain in their games, they have to choose a single blockchain, like Polygon, Solana, or Binance Smart Chain. But think about a more compatible option. “
In another interview, Fung said he left TikTok to cover one of the most common problems in the NFT gaming industry: the lack of properly accessible blockchain infrastructure for developers.
“I left TikTok because I saw a clear chance to solve the fact that infrastructure options for developers who want to build blockchain games are currently split up.”Jason Fung
Meta0 will raise money in the same way that many cryptocurrency startups do: by selling tokens and talking to venture capitalists and strategic investors. Some names that come to mind when talking about Web3 developments are Binance, Animoca Brands, a16z, Consensus Lab, and Kardia Ventures.
There is still a lot of room for growth in blockchain games.
Even though the collapse of the cryptocurrency market has made people less interested in blockchain games, the industry still has a very active group of people looking for a new project or a rise in cryptocurrency prices so they can invest in their favorite games again.
It’s important to note that the gaming industry as a whole is much bigger than the crypto gaming industry, which is more of a niche. However, NFT and blockchain games exploded in 2021, and by the first quarter of 2022, the crypto gaming industry had already made over $2.5 billion.
Also, play-to-earn games like Axie Infinity, CryptoBlades, Plant vs. Undead, and Mir4 became very popular very quickly, and for many families in places like the Philippines, Argentina, and Venezuela, they became their main source of income.
In other words, crypto games not only got money from big institutions, but they also made it easier for regular people all over the world to use them. Even Metamask, which is one of the most well-known wallets in the ecosystem, saw a big spike in new accounts when crypto games and decentralized apps became popular.