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Outbyte PC Repair FREERepair Windows errors before they cause bigger problemsFix Now →Outbyte Driver Updater FREEFix the driver behind crashes, sound loss and screen glitchesFind Drivers →Magic Eden announced Magic Ventures on July 12, 2022, as a venture arm focused on Web3 games. The company named Tony Zhao Head of Gaming Investments and said the unit would invest in promising games and gaming infrastructure. It did not disclose how much capital Magic Ventures would receive.
What Magic Eden announced
The July 12, 2022 announcement introduced Magic Ventures as part of Magic Eden’s push into Web3 gaming. The company also described an expansion of its gaming division, Eden Games, through hires and marketplace partnerships. Its stated investment focus covered both game projects and the infrastructure supporting them. Magic Eden’s launch announcement
At the time, CEO and co-founder Jack Lu said: “We intend to deepen our relationships with both gamers and game developers alike to champion the future of games on the blockchain.” This described the company’s ambition, not an independent assessment of the venture arm’s likely impact. The Block’s July 12, 2022 report
Who led the investment effort?
Magic Eden named Tony Zhao Head of Gaming Investments. The Block reported that Zhao had previously worked at Tencent Games and had experience in game investment, studio acquisitions, and strategic partnerships. The Block’s contemporaneous report
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How much money did Magic Ventures have?
No allocation for Magic Ventures was disclosed in the launch announcement. The Block reported that the amount Magic Eden intended to commit to the unit was unclear. The company’s separate fundraising should not be treated as capital allocated to Magic Ventures. The Block’s July 2022 report
What investments and support did Magic Eden later report?
On February 23, 2023, Magic Eden said Magic Eden Ventures had invested in 11 Web3 gaming studios. The company named MatchDay, Blockstars, Epic League, and Intella X among its partners. The figure is Magic Eden’s own report; it does not establish investment returns or independently verify portfolio performance. Magic Eden’s February 2023 announcement
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Magic Eden said venture partners could receive ecosystem support, access to partner networks, and Launchpad capabilities. It described assistance with NFT launches, user acquisition and engagement, and in-game marketplace infrastructure. These are company-described forms of support, not a disclosure of investment amounts or a measure of results. Magic Eden’s announcement
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What remains unknown
The cited announcements and contemporaneous reporting establish the launch, stated remit, named investment lead, and Magic Eden’s later report of 11 studio investments. They do not establish the venture arm’s allocation, investment performance, current portfolio, later exits, or whether Magic Ventures still operates in the same form. The February 2023 count is historical company-reported activity, not evidence of present-day status.
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