The blockchain network will be brightened up with the establishment of a startup game company by the former head of the TikTok gaming unit, although other tech giants are seen to be at fault with the prospect of blockchain gaming.
It is understood that the former head of the TikTok gaming unit, Jason Fung is venturing into the world of blockchain gaming by raising funds to set up the ‘Meta0’ startup with 6 other individuals.
Comment Fung, the advantage of blockchain games that offer more control to developers (developers) during the choice of infrastructure has captivated him to venture into the technology.
For the record, Fung is the individual responsible for developing ByteDance’s TikTok gaming unit through a $ 4 billion acquisition of Moonton’s gaming studio.
TikTok and ByteDance's $ 300 billion investment in exploring the gaming world, part of a bid to compete with Tencent Holdings, has seen mixed results so far.
The company’s gaming portfolio generated revenue of $ 1 billion in 12 months, yet ByteDance also acted to disband Studio 101 which was responsible for developing gaming functionality on TikTok as it struggled with performance.
Neither TikTok nor ByteDance has given any further statement on the matter so far.
Meanwhile, technology giants including Tencent, Sony Corp and Microsoft Corp are still not in a hurry to venture into the world of blockchain gaming.
This is because blockchain games are currently heavily linked to fraud and the virtual economy for some games that are seen ‘collapsing’ shortly after players make a purchase.
It indirectly signals the tech giant is still not convinced to bet because of the unstable prospects.
