Xterio, a budding developer, publisher and distributor of high-quality Web3 and mobile games, has raised $40 million in funding round led by FunPlus, FTX Ventures, Makers Fund and XPLA, Coin Journal learned. From press release.
HashKey, Infinity Ventures Crypto and Animoca Brands also participated in the round.
Industry leaders come together
Xterio brings together the experience of industry leaders in technology, mobile, entertainment and free game design. Its cross-platform portfolio focuses on multiplayer games centered around ownership and rich gaming experiences.
Funds used to develop and publish the game
The platform will use the funds raised to develop and publish its own and partner games, continue the development of Xterio, and create new world-class IP. The Xterio platform hosts social networking hubs, marketplaces, and more.
We are currently developing multiple games and plan to launch the product this fall. Xterio co-founder Jeremy Horn is a gaming industry veteran with extensive experience developing and maintaining popular free-to-play games. He commented:
Xterio is committed to a great gaming platform that connects the way people play today and the power of Web3 to tomorrow. At Xterio, we understand that ownership enhances gameplay, but we are most interested in creating rich gameplay and long-term franchises. We create engaging and exciting games for Web3 audiences and traditional gamers in a way that all players will love.
FunPlus Chief Business Officer Chris Petrovic added:
Interactive games have always been at the forefront of innovation. FunPlus’ 10-year history of web and mobile innovation has been marked by the belief that Web3 has the potential to offer consumers and content his creators new ways to create, deliver and engage. . Xterio had the right approach, the right technology, and the right team to create it early on. They have the potential to be leading-edge developers and publishers designed for the Web3 era. They ultimately understand that the entertainment value of the experience must come first if Web3’s promise is to truly be realized in the long term.