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Former CEO of TikTok’s gaming business Jason Phan is creating a blockchain-centric gaming firm. Reuters reports this in relation to Phan.
According to media sources, Phan departed TikTok because the parent firm ByteDance was unsuccessful in establishing a position in the global gaming sector. Despite his employer’s shortcomings, Phan feels that the market still has opportunities for innovation.
“Right present, when a developer implements NFT or blockchain technology into a game, they must pick one blockchain, such as Polygon, Solana, or Binance Smart Chain. But imagine a more suitable choice.”
Phan wants to go on with the development of a blockchain infrastructure firm that can link several metaverses.
TikTok to Meta0
The Meta0 startup team is comprised of six individuals, including two co-founders. The firm has already completed the first round of fundraising, although the total amount of contributions is unclear. Who precisely the creators and co-founders of Meta0 are likewise unknown.
However, Fan revealed that the business intended to generate capital via the distribution of tokens. The fan did not indicate based on which network the token was issued. The business is presently developing a system that will enable developers to “expand their gaming advantage over many blockchains and provide users the ability to move their NFTs across networks.”
Phan’s decision comes at a moment of great uncertainty in the Web3 industry. He said, “The current market decline presents a chance to concentrate on construction. It is wonderful not to be sidetracked by the heightened market speculation and volatility as a builder.”
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