TikTok former CEO and gaming head Jason Phan is launching his own blockchain video game startup.
Jason Phan, the former head of the gaming division of short video service TikTok, is launching a blockchain-focused gaming startup. Reuters reports this with reference to Phan.
According to media reports, Phan left TikTok amid failed attempts by parent company ByteDance to have a presence in the global gaming market. Despite the setbacks of his employer, Phan himself believes that there is still room for innovation in the market.
“Now if you look at a developer when they implement NFT or blockchain in their games, they have to choose one blockchain, be it Polygon, Solana or Binance Smart Chain. But imagine a more compatible option.”
Phan wants to continue to create a blockchain infrastructure company that can connect different metaverses.
The Meta0 startup team consists of six people and two co-founders. The startup has already completed the first financing round, but the amount of investment is still unknown. Who exactly is among the developers and co-founders of Meta0 also remains unclear.
However, Fan noted that the startup wanted to raise money by issuing tokens. Fan did not specify which network the token was issued on. The startup is currently working on a protocol that will allow developers to “grow their gaming advantage across different blockchains and give the user the flexibility to transfer their NFTs between networks.”
Phan’s move comes at a time when there is a lot of uncertainty in the Web3 space. He said: “The recent market downturn provides an opportunity to focus on building. I’m a builder and it’s nice not to be distracted by the increased market speculation and volatility.”
Fan has not said when Meta0 plans to release the final product.
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