TikTok's CEO Departs To Launch Blockchain Startup Meta0
Jason Phan, the former CEO of TikTok’s gaming section, is starting a blockchain-focused gaming startup. This is reported by Reuters with reference to Phan.
According to media reports, Phan departed TikTok as parent company ByteDance failed to build a footprint in the global gaming sector. Despite his employer’s shortcomings, Phan feels there is still room for market innovation.
“Right now, if you look at any developer when they implement NFT or blockchain into their games, they have to choose one blockchain, be it Polygon, Solana or Binance Smart Chain. But imagine a more compatible option.”
Phan intends to move on with the creation of a blockchain infrastructure company capable of connecting many metaverses.
The Meta0 startup team comprises of six individuals, including two co-founders. The firm has already completed its first round of funding, but the total amount invested is undisclosed. Who exactly is among Meta0’s developers and co-founders is likewise unknown.
Phan, on the other hand, stated that the company intended to acquire funds through the issuing of tokens. Phan did not indicate which network the token was issued on. The company is currently developing a system that will allow developers to “grow their gaming edge across different blockchains and to give the user the flexibility to transfer their NFTs between networks.”
Phan’s departure comes at a time when the Web3 industry is fraught with uncertainty. “The recent market downturn creates a opportunity to focus on building,” he stated. I’m a builder, and it’s nice not to be distracted by market speculation and volatility.”
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