Bitkraft Ventures Hires Two Executives to Expand Asia’s Web3 Gaming Market
According to reports, Bitkraft Ventures, which manages $830 million in assets, has announced the introduction of two new executives to expand the Asia Web3 gaming market, namely Ji
According to reports, Bitkraft Ventures, which manages $830 million in assets, has announced the introduction of two new executives to expand the Asia Web3 gaming market, namely Jin Oh, former President and CEO of Riot Games and Garena, and Jonathan Huang, former Deputy Director of Temasek. The two will be responsible for searching for high potential blockchain games in Asia, and the venture capital is expected to invest between $1-5 million in the Web3 project.
Bitkraft Ventures introduces two new executives to expand into the Asian Web3 gaming market
Introduction
On a mission to expand the Web3 gaming market in Asia, Bitkraft Ventures has announced the hiring of two new executives, Jin Oh and Jonathan Huang. Jin Oh, former President and CEO of Riot Games and Garena, along with Jonathan Huang, former Deputy Director of Temasek, will be responsible for scouting high-potential blockchain games in Asia. Bitkraft Ventures, which manages $830 million in assets, plans to invest between $1-5 million in these projects.
Who is Bitkraft Ventures?
Bitkraft Ventures is an esports and gaming-focused venture capital fund based in Los Angeles and Berlin. Founded in 2016 by Jens Hilgers, an esports pioneer, and Malte Barth, a successful entrepreneur and venture capitalist, Bitkraft Ventures manages $830 million in assets. Bitkraft Ventures has invested in various gaming-related startups and has a portfolio of more than 60 companies.
The Rise of Web3 Gaming
Web3 gaming, also known as blockchain gaming, is an emerging trend in the gaming industry. Web3 gaming refers to the use of blockchain technology in games to create decentralized, player-owned economies. In Web3 gaming, players can own and trade their in-game assets, such as skins, weapons, and characters. Blockchain technology ensures the validation and security of these transactions, making it possible for players to transfer their assets between different games.
The Potential of Web3 Gaming in Asia
The gaming industry in Asia is one of the largest and fastest-growing in the world. According to a report by Newzoo, the gaming market in Asia is expected to reach $72.2 billion in 2021. The introduction of Web3 gaming in the region could pave the way for a new era of gaming, where players have more control over their in-game assets and can earn real money from playing.
Bitkraft Ventures’ Plan to Expand the Web3 Gaming Market in Asia
To expand the Web3 gaming market in Asia, Bitkraft Ventures has hired two executives, Jin Oh and Jonathan Huang. Jin Oh, who has experience as the President and CEO of Riot Games and Garena, will be responsible for identifying high-potential blockchain games. Jonathan Huang, previously the Deputy Director of Temasek, will focus on building partnerships and growing the Web3 gaming ecosystem in the region.
Bitkraft Ventures plans to invest between $1-5 million in these promising blockchain games in Asia. These investments will not only provide financial support for these projects, but it will also give Bitkraft Ventures a stake in the growing Web3 gaming market in the region.
Conclusion
With the introduction of two new executives, Bitkraft Ventures is poised to expand the Web3 gaming market in Asia. By identifying and investing in high-potential blockchain games, Bitkraft Ventures is positioning itself to be a major player in the emerging trend of Web3 gaming.
FAQs
**Q1. What is Web3 gaming?**
Web3 gaming, also known as blockchain gaming, refers to the use of blockchain technology in games to create decentralized, player-owned economies.
**Q2. What is Bitkraft Ventures?**
Bitkraft Ventures is an esports and gaming-focused venture capital fund based in Los Angeles and Berlin. The fund manages $830 million in assets.
**Q3. What is the potential of Web3 gaming in Asia?**
The gaming market in Asia is expected to reach $72.2 billion in 2021, and the introduction of Web3 gaming in the region could pave the way for a new era of gaming, where players have more control over their in-game assets and can earn real money from playing.
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