Magic Eden started life as the leading Solana marketplace, but has since evolved into a cross-chain platform with lofty goals. Two recent moves have shown that Magic Eden is all in on Web3 gaming.
In five years, the ground beneath blockchain gaming has grown from makeshift foundations to vast cities of opportunity. Every week we report seismic shifts in the landscape, major adoption, and monumental partnerships. Magic Eden has been a marketplace that has played a role in the rise of blockchain gaming, but until now, it has only been tangentially linked to its progress. These two latest announcements, however, may change that.
Web3 Gaming Collective
The first move is the Web3 Gaming Collective (WG3C) which looks to be a group of leading publishers, communities, and developers with the aim of furthering blockchain adoption in gaming. The initial members are Magic Eden, Fenix Games, Yield Guild Games, and Game7. Regular readers of Token Gamer will recognize all of these organizations; Fenix Games raised $150m last year almost entirely based on the all-star team behind it, Game7 raised an absurd $500m one year before Fenix, and Yield Guild Games (YGG) are simply a staple of the space.
A focus of the WG3C that particularly resonates with me is that of derisking blockchain gaming. Although the traditional game developer and publisher interest in Web3 is growing rapidly, its cold reception from traditional gamers and its links to the volatile world of cryptocurrencies leaves many hesitant. An organization that can help smooth this friction could be invaluable to the fledgling industry.
Magic Eden Games
The second move is the launch of a Web3 gaming platform called Magic Eden Games. The aim appears to be an all-encompassing hub for Web3 gaming and is looking to cultivate a large gamer community, as well as onboard both native blockchain games and traditional games looking at harnessing blockchain. As you can see in the above graphic, some of the biggest names in the space are already a part of the platform, including Illuvium, Shrapnel, Aurory, Wildcard, and Planet Mojo.
Magic Eden Games continues to drive growth for leading web3 games studios. Game developers leverage our platform to acquire new player communities, share game updates, document their game’s milestones, and tap into significant revenue opportunities through the best marketplace experience in all of web3. We look forward to continuing to fuel the growth of the entire web3 gaming ecosystem.
— Chris Akhavan, Chief Gaming Officer at Magic Eden
The competition for this sort of platform is already fierce with the likes of Fractal, Immutable, and Ultra, to name just a few. Nevertheless, Magic Eden is well placed for the role and their full court press into Web3 gaming is encouraging to see.