Twitch Co-Founder Justin Kan Launches Gaming NFT Marketplace on Solana

Fractal is bringing ownership to a community rich in both digital assets and NFT skepticism.

AccessTimeIconDec 13, 2021 at 5:00 p.m. UTC
Updated Dec 13, 2021 at 5:29 p.m. UTC

Eli is a news reporter for CoinDesk. He holds ETH, SOL and AVAX.

Web 3 gaming received another boost on Monday with the announcement of Fractal, a marketplace for gaming-related NFTs led by Twitch co-founder Justin Kan.

The platform will serve as a primary marketplace for players to buy non-fungible tokens directly from game companies to use in-game, as well as a secondary marketplace for peer-to-peer trading.

“People have always been able to make real money playing video games,” Kan told CoinDesk in an interview. “What we’re seeing with Web 3 gaming, it feels like a natural development towards ownership gamers have always wanted.”

The company already has a number of gaming partnerships in place to be announced in the coming week, according to a press release. Kan has been an active investor in Web 3 gaming in recent months, leading an $8 million dollar funding round for Solana-based mafia game “Syn City” in November.

While the burgeoning Web 3 gaming sector has yet to win over some non-crypto gamers – which was on full display last week after Ubisoft announced its first NFT integrations – investors continue to back the space with confidence, and lots of money.

Lightspeed and FTX raised a $100 million fund in November dedicated to growing Solana’s gaming ecosystem, along with a $200 million fund raised by Hashed in part for gaming on Terra in December.

Fractal says it’s starting with Solana NFTs because the blockchain’s low costs and high transaction speeds are attractive to game companies looking to sell a high volume of assets, according to a blog post. The company plans to integrate other blockchains in the future, a representative told CoinDesk.


Read more about

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

CoinDesk - Unknown

Eli is a news reporter for CoinDesk. He holds ETH, SOL and AVAX.

CoinDesk - Unknown

Eli is a news reporter for CoinDesk. He holds ETH, SOL and AVAX.

Investing in the Future of the Digital Economy
October 18-19 | Spring Studio, NYC