Xterio Secures $40M in a Round Co-led By FunPlus

Cross-platform publisher and blockchain gaming company Xterio has generated $40 million in a funding round co-led by its key partners FunPlus, FTX Ventures, Makers Fund, and another blockchain gaming platform known as XPLA. 

The round enjoyed participation from many others like HashKey, Foresight Ventures, Infinity Ventures Crypto, Matrix Partners, and the notable Animoca Brands which also recently pulled $75 million in new funding.

According to the announcement, the secured funds will be used to develop innovative Xterio games with more advanced specifications and also expand the operations of the platform.

Xterio is known for developing and producing high-quality mobile Web3.0 games. Ordinarily, the Xterio platform design, operations, and infrastructure are backed by game developers from FunPlus, Electronic Arts, Activision Blizzard, Krafton, Jam City, and NetEase amongst many others. 

These developers bring on their years of experience and expertise from various sectors ranging from technology, mobile, entertainment, and free-to-play games to upscale the operations of Xterio. The gaming firm serves as FunPlus’ exclusive partner to mint, distribute and manage its non-fungible tokens (NFTs) for its game titles. Meanwhile, FunPlus supplies the platform with the necessary technology stack required to run the network.

Xterio Fund Targets More Web3.0 Games

Additionally to the utilization of the funds, its partner’s games will be developed and published, alongside high definition of Intellectual Property (IP) which would be created. Once expansion hit the Xterio platform following the new fund, the platform will feature a marketplace, a social community hub as well as a crypto custodial wallet. 

Together with the expertise of its partners, the Xterio platform will focus on developing more Web3.0 multiple-player games which will confer ownership rights on the players with the NFTs. These games are designed in such a way that players get to enjoy rich user experiences.

Jeremy Horn, the former Vice President of Strategy at Jam City and current Co-founder at Xterio affirmed that “At Xterio, we are building an amazing games platform that bridges how people play today with the power of Web3 for tomorrow.” He said;

“We believe that gameplay is enhanced by ownership, but we are most interested in creating long-lasting franchises and rich gameplay experiences. We will build our games to be fun and engaging for both traditional gamers and the Web3 audience in a way that any type of player can enjoy.”