Former TikTok gaming CEO Jason Fung has left the fastest-growing social media company. Following his departure, the ex-executive launched his own Blockchain game firm. Fung indicated in his July 5 announcement that he left TikTok to facilitate the launch of MetaO.
He explained that MetaO is a blockchain-focused video gaming firm. According to Fung, his decision to leave TikTok stems from a desire to find long-term solutions for video game production. He feels that with his expertise and skills in the game industry, he can effect positive change.
Fung also mentioned in an interview that he departed TikTok to deal with some concerns in the NFT gaming business. He stated that there is insufficient blockchain infrastructure for developers to easily access. It’s an open opportunity for him to combine his technological expertise.
Fung revealed some of his responsibilities in a further overview of his work via one of his PR. First and foremost, he is responsible for ensuring MetaO’s growth in creating the ideal ecosystem for game creators and channel partners.
He would be in charge of many strategic decisions, such as coordinating fundraising campaigns, enabling beneficial collaborations, and so on. He would also emulate the Polkadot network’s current step in inventive advancement. This entails establishing L1/L2 blockchain operations on MetaO as a Layer-0 network.
MetaO Would Ensure Interoperability In The Blockchain Gaming Industry
Fung stated that the aim for the launch of MetaO is to build a bridge through interoperability. With his new concept, game makers will not be limited to a few platforms.
Users would have several alternatives for operating efficiently because MetaO may link to multiple blockchains. He mentioned examples of NFT and game producers being coupled to a single blockchain, such as Binance Smart Chain, Solana, or Polygon.
The MetaO would be a follow-up to existing cryptocurrency businesses. It would raise funds through token offerings and negotiate with relevant strategic investors and capitalists. Animoca Brands, Binance, Kardia Ventures, Consensus Lab, and a16z are some of the prominent stakeholders in Web3 development.
Despite the recent decline in the crypto market, which has impacted blockchain gaming, the industry still maintains active communities. Furthermore, records show a tremendous increase in blockchain and NFT gaming in 2021.
The crypto gaming sector experienced a similar rising trend in Q1 2022, with more than $2.5 million recorded. Some play-to-earn games have gotten more attention, including CryptoBlades, Axie Infinity, Mir4, and Plant vs. Undead.
Some players utilize the games as their principal source of income in nations such as Argentina, Venezuela, and the Philippines.