Bitkraft Ventures Adds Former Riot Games and Temasek Executives to Expand Asia Web3 Gaming Market

04/21/2023 14:07 • Digital Disruptors • 84 views

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

Bitkraft Ventures, a global esports and gaming investment fund managing $830 million in assets, has announced the appointment of two new executives to expand its reach in Asia’s Web3 gaming market. Jin Oh, former President and CEO of Riot Games and Garena, and Jonathan Huang, former Deputy Director of Temasek, will be working closely with the firm to search for high-potential blockchain games in Asia that the venture capital is expected to invest between $1-5 million in the Web3 project.

Asia’s Booming Web3 Gaming Market

As the adoption of blockchain technology continues to grow, the gaming industry has seen an exponential rise in the number of startups developing blockchain-based games, particularly in Asia. Blockchain games offer unique advantages such as true ownership of in-game assets and the possibility of earning crypto tokens. China’s game subscription revenue is estimated to reach $5.5 billion by 2025, while Taiwan’s gaming industry is expected to grow to $1.4 billion by 2023. This indicates that the region holds a huge potential to become a hub for Web3 gaming.

A Boost for Bitkraft Venture’s Expansion in Asia

Bitkraft Ventures’ decision to hire two veterans from the gaming industry is a smart move that highlights its ambition to expand its reach in the Web3 gaming industry in Asia. Jin Oh, with his extensive experience in managing leading gaming companies, will be leading the firm’s investment strategy and management of its gaming portfolio. Meanwhile, Jonathan Huang, with his experience in investment management and technology, will be responsible for identifying and assessing new potential investments.
With the backing of Bitkraft Ventures, the two executives are poised to leverage their expertise and connections in the gaming industry to identify innovative blockchain games with high growth potential. Bitkraft Ventures’ aggressive investment strategy and dedicated focus on the emerging Web3 gaming market make it an attractive partner for these entrepreneurs and could potentially create positive outcomes for the industry.

Conclusion

The addition of Jin Oh and Jonathan Huang is a significant step for Bitkraft Ventures as it looks to expand its presence in the Asian gaming market, particularly in the emerging Web3 sector. With the rapid growth and potential profitability of blockchain gaming, the new executives are well-equipped to identify worthwhile investments and create a strong foundation for Bitkraft Ventures in Asia.

FAQs

**1. What is Bitkraft Ventures?**
Bitkraft Ventures is a global esports and gaming investment fund with $830 million in assets under management.
**2. Why is the Asia Web3 gaming market important for Bitkraft Ventures?**
The Asia Web3 gaming market holds significant potential for growth as blockchain technology continues to be adopted in the gaming industry. Bitkraft Ventures’ decision to hire Jin Oh and Jonathan Huang highlights its ambition to expand its reach in this market.
**3. What will Jin Oh and Jonathan Huang do for Bitkraft Ventures?**
Jin Oh will lead the firm’s investment strategy and management of its gaming portfolio, while Jonathan Huang will be responsible for identifying and assessing new potential investments in the Asia Web3 gaming market.
**Keywords:** Bitkraft Ventures, Riot Games, Garena, Temasek, Asia, Web3 gaming, blockchain-based games, crypto tokens, investment, growth potential.

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