On July 5, Jason Fung, the former CEO of TikTok’s gaming division, made the announcement that he was leaving the company to found Meta0, a blockchain video game business.
Stating that he wanted to offer fresh solutions to video game producers, though, as an enterprise IT executive with a history that included considerable work for big organizations in the gaming sector.
Fung explained that the goal of Meta0 is to increase interoperability amongst the various blockchain networks so that developers are not restricted to using only a few of them for their projects.
“At the moment, every developer who wants to incorporate NFTs or blockchain technology into their games must select just one blockchain, be it Polygon, Solana, or Binance Smart Chain.
Even though the collapse of the cryptocurrency market has significantly reduced interest in blockchain games, the sector still has a highly active community that is anxious to find a new project or a recovery in cryptocurrency prices to invest in their preferred video games once more.
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.
The blockchain ecosystem is rapidly growing as cryptocurrency as means of payment is increasingly being adopted around the globe also diverse establishment across different industries such as Ferragamo, Gucci, Facebook are adopting NFTs and blockchain-based social media platforms which provide users more privacy and are censorship resistant such as Tok Lok App, Steemit, peetah and indorse.io are increasingly becoming popular.
Axie Infinity, CryptoBlades, Plant vs. Undead, and Mir4 are examples of play-to-earn games that quickly gained popularity and even replaced other sources of income for many families in nations like the Philippines, Argentina, and Brazil.
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