TikTok Games to Blockchain Games: Will it Be Too Risky for Jason Fung?

Blockchain Games

Blockchain GamesJason Fung launched Meta0 to make blockchain integrations easier for game developers

Jason Fung, former head of TikTok’s gaming division, has announced that he is launching a blockchain gaming startup called Meta0 to allow the transfer of non-fungible tokens (NFTs) between different blockchains.

 

Introducing Meta0

In a recent interview, Jason Fung announced the launch of Meta0 as one of two co-founders and would serve as the C.E.O. of the company. Meta0 launches with six staffers at present, but no further details were given.

Fung said he left the social media giant TikTok after seeing an opportunity to offer a solution to the current disconnected infrastructure options available to developers looking to build blockchain games.

 

A Change in Blockchain Gaming with Meta0

Jason Fung says he launched Meta0 to make blockchain integrations easier for game developers. Meta0 will provide developers with white-label application programming interfaces (API) and software development kit-based solutions.

“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,” Fung revealed that Meta0 had closed its first investment round but did not disclose the amount raised. However, he adds that Meta0 still looks to raise further capital through token offerings, venture firms, and strategic investors.

Even though interest in blockchain games has dropped quite a bit due to the collapse of the crypto market, the industry still has a very active community eager to find a new project or a rebound in cryptocurrency prices to invest in their favorite video games again.

It should be noted that the broader gaming industry is a behemoth in comparison to the more niche crypto gaming industry; however, NFT and blockchain games exploded in 2021, and this year the crypto gaming industry had already registered over $2.5 billion by Q1, 2022.

Also, play-to-earn games like Axie Infinity, CryptoBlades, Plant vs. Undead, and Mir4 became extremely popular, extremely quick —even turning into the primary source of income for many families in countries like Philipines, Argentina, and Venezuela.

In other words, crypto games not only attracted money from big institutional players but also boosted their adoption by retail users worldwide. Even Metamask, one of the best-known wallets in the ecosystem, had significant peaks in terms of new accounts thanks to the boom in crypto games and decentralized applications.