Former TikTok Head Unveils Meta0, A Blockchain Games-Centered Startup
A former head of the TikTok gaming department, Jason Fung, launched his blockchain game startup Meta0 on July 5. The developer revealed that he left TikTok to pursue his dream of establishing a blockchain gaming platform.
According to Fung, leaving TikTok was a big risk he took to follow his passion, and the launch of Meta0 is a fulfilling achievement worth celebrating.
Video games based on blockchain technology are increasingly popular, and TikTok does not have the drive to achieve what it set out to do. As an enterprise tech executive, Fung has gained vast experience during his working relationship with TikTok. He wants to bring another dimension of video gaming to developers to scale their blockchain game development.
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Fung will oversee the whole Meta0 ecosystem by managing the team of developers and making the network’s protocol fit his vision.
Meta0 Comes with Interoperability for Blockchain Gaming
According to Fung, the motive behind his creation of Meta0 is to provide interoperability across blockchain networks. With interoperability, developers will be able to make use of large blockchain protocols to start their projects.
Meta0 eliminates developers’ reliance on a single blockchain by making interoperability possible and enhancing efficiency in blockchain gaming production.
In another development, Fung noted that he left TikTok to provide a solution to one of the most common problems in the virtual gaming space. Fung disclosed that the absence of accessible blockchain infrastructure had limited developers’ output in the industry.
Leaving TikTok has enabled him to provide the solution that has stunted the growth of blockchain gaming.
Meanwhile, Meta0 is extensively working on raising funds through issuing tokens and collaborating with venture capitalists and investors. Fung wants to partner with Web3 companies to have a robust foundation for his startup firm.
Opportunities Abound in Blockchain Gaming
The crypto market correction has profoundly impacted the blockchain gaming industry. However, the presence of an active community looking to support the next blockchain gaming project has helped it remain relevant.
Moreover, the broader gaming ecosystem has a much higher market valuation than its blockchain counterpart. Still, NFT and blockchain gaming managed to expand last year. Its current market valuation is more than $2.5 billion as of the first quarter of 2022.
In addition, play-to-earn NFT and blockchain games like Axie Infinity and CryptoBlades are becoming more mainstream in gaming. These games are fast becoming a means of earning money for most people in developing countries like Argentina, Venezuela, and the Philippines.
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Blockchain games bring money to large institutional players and boost their retail adoption worldwide. The boom in crypto games and decentralized blockchain platforms has also increased the number of crypto wallet users.
The industry is yet to recover from the broader crypto market slump, but experts believe that blockchain games have the potential to unlock massive revenues for developers and other players.
Decentralization will open more doors for blockchain technology adoption and large-scale institutional use in the years to come.
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