Razer Powers Up Web3 Gaming with zVentures Incubator

The gaming technology company Razer just announced a new investment fund aimed at supporting blockchain-based games and developers. The “xVentures Web3 Incubator” (ZW3I) fund will play a critical role as Razer looks to build the next generation of Web3 games and projects.

Razer says it will invest in early-stage Web3 gaming projects with a focus on enhancing the gamer experience, assisting companies with their roadmap, and backing up projects with their established team. Companies that are funded by ZW3I will also have access to Razer’s marketing resources and partnerships, which include Animoca Brands, Griffin Gaming Partners, 1Up Ventures, Play Ventures Future Fund, Amazon Web Services, and more.

Although blockchain-based games are becoming more popular, they are still struggling to attract hardcore gamers. Razer believes this is because companies are too focused on the blockchain technology aspect of the game rather than focusing on improved gameplay.

Razer wrote in a blog post on Tuesday that blockchain has the potential to improve the gamer experience. However, incorporating it successfully “requires a deep understanding of what gamers’ behavior and individual motivations are in a game.”

Unsurprisingly, ZW31 will be prioritizing game quality in its selection process for identifying new titles and partners. It will also focus on supporting mainstream gaming companies with a positive track record of developing games. Razer wrote that established companies have the potential to “create engaging and enjoyable blockchain games” to attract a larger player base and drive adoption of Web3 gaming.

Lawrence Lin, the director of Blockchain at Razer, said that Web3 can revolutionize the gaming experience for gamers. He added that ZW3I is also trying to set the stage for mass adoption of Web3 within the broader gaming industry.

Web3 Investments Keep Pouring In

The new fund from Razer is exciting for fans of Web3 gaming. But it isn’t the first big investment we’ve seen in blockchain-based games recently. At Rarity Sniper, we’ve covered several articles about large amounts of money being raised to develop the future of gaming. Here are some of our top stories.

First, about a month ago, the Brazilian Web3 game publisher Jungle raised $6 million in a seed funding round co-led by Bitkraft Ventures and Framework. The funds are being used to expand the studio’s development team and to create a Web3 mobile shooter game.

Next, about four months ago, Game7, a Web3 gaming DAO supported by BitDAO and Forte, launched a $100 million grant program for game developers to build tools to enhance Web3 gaming. The grant program will select Web3 projects to receive $20 million a year over the next five years.

Finally, seven months ago, Limit Break announced it raised $200 million from venture capitalists based on a concept called “free-to-own” blockchain-based gaming. The funding round was led by Standard Crypto, Buckley Ventures, Paradigm Ventures, and Coinbase.

It may take some time before the new fund from Razer starts to yield results. But considering the gaming industry is projected to generate upwards of $250 billion in 2023 alone, it’s not surprising how much money is being thrown at developing better Web3 games. At Rarity Sniper, we’ll be paying attention to any new developments in the story.