Jason Phan, the former head of the short video service TikTok, is launching a blockchain-focused gaming startup.
According to media reports, Phan left TikTok amidst failed attempts. He left the platform for parent company ByteDance to have a presence in the global gaming market. Despite his employer’s setbacks, Phan himself believes there is still room for innovation in the market.
“Now, when you look at a developer implementing NFT or blockchain in their games, they have to choose a blockchain, be it Polygon, Solana or Binance Smart Chain. But imagine a more compatible option “.
Moreover, Phan wants to continue building a blockchain infrastructure company capable of connecting multiple metaverses.
The Meta0 startup team is made up of six people and two co-founders. The startup has already completed the first round of financing, but the investment amount is still unknown. Exactly who is among the developers and co-founders of Meta0 is also unclear.
However, Fan noted that the startup wanted to raise money by issuing tokens. The fan is not specifying on which network the token was issued. The startup is currently working on a protocol that will allow developers to “increase 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 offers an opportunity to focus on building.
Fans haven’t said when Meta0 plans to release the final product.