Razer, a video game hardware platform through its zVentures Web3 Incubator (ZW3I) has revealed its new funding for Web3 gaming projects.
The incubator wants to support Web3-enabled games to mainstream audiences and will select developers with “a strong track record in creating successful games.”
According to Razer’s Director of Blockchain Lawrence Lin, the incubator will concentrate on advertising assistance, will incubate up to 36 projects, and will not disqualify mobile games despite being a PC gaming-focused organization.
Razer believes that Web3 games have failed to reach mainstream audiences. To move forward, the company claims that more research is needed to investigate and better understand gamers’ motivations and behaviors.
According to Lin, many blockchain games currently prioritize the use of blockchain technology over creating an engaging and entertaining gameplay experience, resulting in a lack of player attraction and retention.
He went on to say that they believe that immersive and engaging gameplay is the foundation of any successful game (whether Web2 or Web3).
Such sentiments echo those of many other game developers, who argue that early crypto games focused too much on financials and not enough on enticing graphics or rich gameplay.
Some in the Web3 gaming industry’s infancy have rejected terms like “play-to-earn” and “GameFi,” which highlight financial gain over fun.
Numerous developers believe that the next generation of Web3 games will be better able to reach traditional gamers because they will prioritize persuasive gameplay and satisfactory social experiences over token rewards. Razer appears to want to help with this.
Why is Razer’s Web3 push important? Razer has strong brand recognition among mainstream gamers, and it has the possibility of influencing the future of Web3 gaming by exposing titles and developers to Razer’s audience of approximately 200 million gamers.
Lin stated in a statement that the most essential part of any successful game release is the gaming experience.
They are confident that Web3 will revolutionize this experience for all with blockchain technologies and support from companies with extensive gaming knowledge.
When questioned about the amount of money set aside for ZW3I, Lin stated that because Razer is a private company, no financial information can be disclosed. However, it’s worth noting that zVentures began as a $30 million fund in 2016.
While Razer’s venture capital interests are not new, the company is increasing its focus on crypto and Web3. ZVentures has already invested in Animoca Brands, the publisher of The Sandbox, and an investor in hundreds of Web3 startups, as well as crypto platform Finblox and DeFi firm Coinomo, to name a few.
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