Razer Launches Web3 Incubator to Fund Blockchain Game Development
The gaming peripherals giant is turning its head towards Web3, creating an extension of their venture arm to focus on blockchain games!
APRIL 24, 2023. NEWS. WRITTEN BY JENZ ALIPAR.
For gamers, by gamers!
Razer, a leading brand in gaming peripherals, has announced the launch of its zVentures Web3 Incubator (ZW3I) – a brand-new venture arm focused on bringing Web3 games to mainstream audiences.
zVentures originally launched in 2016 with a $30mil fund, financing organisations such as Animoca Brands. Whilst the fund size for this new Web3 arm is undisclosed, Razer have stated they will support both PC and mobile games, selecting developers based on their “strong track record” of high-quality, successful titles.
Why is Razer entering Web3?
Razer’s audience, estimated to be in the region of 200 million gamers, puts them in a powerful position to shape the future of Web3 gaming – an industry which they believe has failed to lie up to expectations thus far.
Razer believes that more work needs to be done to understand the motivations and behaviours of gamers to move forward, and ensure the second-generation of Web3 games have what it takes to appeal to the mainstream.
Engaging gameplay and compelling experiences are to be the focus, with a diminished spotlight on the technology behind Web3, something which Razer believes has taken too much of the focus thus far.
Razer’s Director of Blockchain, Lawrence Lin, has been vocal in his criticism of Web3 games thus far, telling Decrypt:
“Presently, numerous blockchain games prioritize the use of blockchain technology over creating an engaging and entertaining gameplay experience, leading to a dearth of player attraction and retention. The gaming experience is the most important aspect of any successful game launch. We are certain that Web3 will revolutionize this experience for all.”
Lin went on to explain that up to 36 projects will be supported through ZW3I, receiving marketing support on top of capital investment.
For further details on ZW3I, head to their website.
