TikTok former CEO and gaming head Jason Phan launches 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. This is reported by Reuters with reference to Phan.
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According to media reports, Phan left TikTok amid unsuccessful attempts by parent company ByteDance to establish a presence in the global gaming market. Despite his employer’s setbacks, Phan himself believes there is still room for innovation in the market.
“Right now, if you look at any developer when they implement NFT or blockchain into 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 push ahead with creating 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 closed the first round of funding, but the amount of investments remains unknown. Who exactly is among the developers and co-founders of Meta0 also remains unclear.
However, Fan noted that the startup was looking to raise funds through the issuance of tokens. On the basis of which network the token was issued, Fan did not specify. The startup is currently working on a protocol that will allow developers to “grow their gaming edge 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 creates an opportunity to focus on building. I am a builder and it’s nice not to be distracted by the increased market speculation and volatility.”
Fan didn’t say when Meta0 plans to release the final product.
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