Video game hardware company Razer unveils a Web3 incubator

Razer, a leading video game hardware and peripherals company, is funding Web3 gaming projects through its newly launched zVentures Web3 Incubator (ZW3I). ZW3I is an incubator that will support the growth of Web3 games by making it easier for them to access the mainstream audience.

Razer launches a Web3 incubator

The ZW3I project will select the developers that qualify for the incubator program. The developers who qualify for the program are the ones that have a positive track record in creating Web3 games that are successful.

The Director of Blockchain at Razer, Lawrence Lin, commented on the development, saying that the incubator program would focus on offering the needed marketing support while incubating a maximum of 36 projects. Lin also said that the incubator would include mobile games despite the company being a PC gaming-focused company.

Razer is a company that created a wide range of hardware, including laptops, headsets, and gaming devices. The company has said that more work is needed to understand the motivations of gamers and their behaviors to achieve future goals.

Lin added, “Presently, numerous blockchain games prioritize the use of blockchain technology over creating an engaging and entertaining gameplay experience, leading to a death of player attraction and retention. We believe that the foundation of any successful game (be it Web2 or Web3) is immersive and engaging gameplay.”

The sentiments mirror what has been said by other game developers. Early crypto gamers are currently focused on the company’s financials, and not much has been done to improve the company’s graphics. The Web3 gaming industry has not used terms such as “GameFi” and “play-to-earn” because of claims that these platforms pay too much attention to the financial gains and not the fun of the games offered by these platforms.

Most people creating products in this space have said that the next generation of Web3 games will offer a better reach to traditional gamers by offering immersive gameplay and social experience.

Razer’s increased focus on Web3

Razer’s pursuit of the Web3 space could benefit the industry because the company offers notable brand recognition among mainstream gamers. This game is also positioned to transform the Web3 gaming space by making titles and developers available to the Razer audience of around 200 million gamers.

Lin noted that a successful game launch was determined by the gaming experience. The executive added that blockchain technologies and the support provided by companies with solid experience in gaming showed that Web3 could transform the overall experience.

Lin further said that Razer was not well-positioned to disclose any financial information about the amount set aside for ZW3I as it was a private entity. However, it is not the first time that Razer is showing interest in the industry, as it is doubling down its venture capital interests on crypto and Web3 offerings. ZVentures has invested in firms such as Animoca Brands and The Sandbox.