- Meta0 aims to allow developers to take advantage of the strengths of different blockchains
- Meta0 will allow the transfer of NFTs between different blockchains
- Fung will seek partnerships with game developers, distribution partners and blockchains
Former head of TikTok’s games division, Jason Fung, is launching a blockchain-based game designer, Meta0, to enable the movement of non-fungible tokens (NFTs) between different blockchains, according to a Reuters report on Tuesday.
According to his article proposal, Meta0 means allowing designers to exploit the qualities of various blockchains, for example, using both the fast and minimal exchanges of Solana and the assets of Ethereum in security administrations and Challenge.
Fung said he passed on TikTok after seeing a valuable chance to give an answer to ongoing isolated development bases for blockchain game creators.
Meta0 has another founder with six staff currently
Fung has remained firm on his leadership positions at other tech companies, most recently as global leader of TikTok’s gaming group, and he previously led Alibaba Group’s Electronic Arts and eSports.
As CEO of the startup, Fung will seek out organizations with game engineers, chain partners, and blockchains, and generally lead procedures, promotion, support mobilization, and day-to-day tasks as directed. by another public statement.
The organization has closed its most memorable round of speculation and hopes to raise more capital through token contributions, as well as adventure companies and key backers, Fung said in the Reuters report.
Fung said Meta0 currently has one more pioneer alongside six staff members, but no other niceties were given, according to Reuters.
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What are Blockchain games?
A blockchain game (otherwise known as NFT game or crypto game) is a computer game that incorporates components that use cryptography-based blockchain innovations. Blockchain components in these games are most often based on the use of digital money or non-fungible tokens (NFTs) that players can buy, sell or trade with different players, with the game distributor taking into load each exchange as an adaptation type.
A subset of these games are otherwise known as play-to-procure games because they incorporate frameworks that allow players to acquire digital cash through continuous interaction. While blockchain games have been accessible since around 2017, blockchain games definitely stand out from the gaming industry as of 2021, with a few AAA distributors having communicated their expectations to investigate their true capability, as well as the analysis of players, designers and organizations inside. gambling business.
Blockchain innovations, like digital currencies and NFTs, are potential adaptation courses for computer games. Some live administration games offer in-game customization choices, for example, character skins or other in-game items, which players can acquire and trade with different players involving in-game currency .
A few games also consider exchanging virtual items using real money, however, this may be illegal in some countries where computer games are considered similar to betting. This caused black market issues, for example, skin bets, so distributors routinely avoided allowing players to source certifiable assets from games.
Blockchain games typically allow players to trade in-game items for digital currency, which can then be exchanged for cash, which could avoid problems with dark trading sectors due to the discernability of the game. blockchain.