Quick take:
- Razer has launched a new incubator fund for web3 gaming.
- The zVentures Web3 Incubator (ZW3I) will invest in promising early-stage projects.
- Selected projects will gain access to zVentures network which includes Animoca Brands, AWS, 1Up Ventures, Griffin Gaming Partners, and Play Ventures Future Fund.
Razer has launched a new fund for web3 gaming companies. The gaming tech provider said the zVentures Web3 Incubator (ZW3I) will invest in promising early-stage projects.
The fund supplements Razer’s strategic investment activities as it looks to play a crucial role in building the next generation of blockchain-enabled gaming companies and projects.
The incubator fund is leveraging its wide network of experts, which features leading web3 gaming and investment companies including Animoca Brands, Amazon Web Services, 1Up Ventures, Griffin Gaming Partners, and Play Ventures Future Fund, to accelerate the adoption of blockchain games.
Selected companies will gain access to the network, putting them in a good position to build games that address some of the web3 gaming industry’s most pressing challenges.
Although several developers have shown an interest in building blockchain games, they have struggled to attract hardcore gamers, with retention rates declining.
Razer believes the reason for low retention rates is partially caused by developers that focus solely “on blockchain technology integration rather than leveraging the technology to optimize and improve gameplay.”
“While blockchain capabilities have the potential to enhance the gamer experience, incorporating it successfully is a complex endeavour and requires a deep understanding of what gamers’ behaviour and individual motivations are in a game,” Razer wrote in a blog post announcing the incubator fund on Tuesday.
To bridge the expectation gap between gamers and developers, zVentures said it will leverage ZW3I to prioritize game quality in its selection process for identifying promising Web 3.0 game titles and partners.
The fund will focus on supporting mainstream gaming companies with a good track record of developing successful games as they look to leverage web3 gaming technologies.
“By utilizing their existing expertise in game development, these companies have the potential to create engaging and enjoyable blockchain games that will attract a wider player base, thereby driving the growth and adoption of blockchain technology in the gaming industry,” Razer wrote.
Commenting on the announcement, Lawrence Lin, Director of Blockchain at Razer emphasised the importance of the gaming experience in onboarding new users.
“The gaming experience is the most important aspect of any successful game launch. With blockchain technologies and support from companies with strong gaming knowledge, we are certain that Web 3.0 will revolutionize this experience for all,” said Lin.
Selected companies will receive marketing support to help accelerate their development roadmap for building quality web3 games.
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