Xterio raises $40M for high-end mobile Web3 games
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Xterio, a cross-platform publisher and developer of high-quality mobile and Web3 games, has raised $40 million in funding.
FunPlus, FTX Ventures, Makers Fund and XPLA led the round, with additional participation from Hashkey, Foresight Ventures, Headline, Matrix Partners and Animoca Brands.
The funding shows that game investors are still enthusiastic about blockchain games, despite the economic slowdown, war in Ukraine, high inflation, the cryptocurrency winter and a newfound gaming slump. And Web3 teams with a good pitch can still raise a whopper of a funding round.
The Zug, Switzerland-based company is helmed by game executives from FunPlus, Electronic Arts, Activision Blizzard, Krafton, Jam City, NetEase and other top games brands, with a focus on building multiplayer games that aim to entertain and reward players to play together.
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The Xterio platform is designed to benefit both the games community and the developers that serve them. For hardcore gamers, Xterio wants to be the central hub to discover and play high-quality Web3 games. For developers, Xterio provides a full-service Web2 and Web3 tool suite and publishing services, and the ability to carry items and characters, increasing their value and cross-promotion between titles.
The funding will be used to develop and publish its own games as well as partners’ games, create new world-class intellectual property and to continue development on
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