NFT Marketplace Magic Eden Forms Web3 Games Collective

NFT marketplace Magic Eden is further expanding into the realm of Web3 gaming by establishing the Web3 Games Collective (W3GC) in collaboration with several prominent publishers and communities. The industry group, announced at the annual Game Developers Conference in San Francisco, aims to accelerate the mass adoption of Web3 gaming by leveraging the combined expertise and resources of its members, including Game7, Yield Guild Games, and Fenix Games.

Steven Chen from Game7 emphasized the importance of focusing on quality games and intellectual property to drive the sector forward, as seen in the PC, console, and mobile gaming industries. Gabby Dizon, co-founder of YGG, highlighted that finding and accessing Web3 games is currently too complex for most users, and collaborating with a DAO like Game7 and a game publisher like Fenix Games can help simplify the landscape and foster mass adoption.

The W3GC also seeks to mitigate risks for investors and developers while aiming to discover and scale a blockchain “mega-hit” that will attract new users. Magic Eden has been increasingly interested in Web3 gaming, appointing former Electronic Arts executive Chris Akhavan as chief gaming officer in December and investing in 11 Web3 gaming studios in February. The company recently launched “Mint Madness,” an initiative to introduce a dozen games on three blockchains, and Magic Eden Games, a platform designed to connect game studios with players and facilitate game updates.