Xterio has raised 40 million US dollars in a funding round. The startup from the Greater Zurich Area specialises in high-quality free-to-play games in Web3. The round was led by FunPlus, Makers Fund, FTX Ventures and XPLA, with “significant participation” from HashKey, Foresight Ventures, Infinity Ventures Crypto, Matrix Partners and Animoca Brands, according to a statement.
Xterio's platform brings together the experience of leading technology, entertainment, mobile and free-to-play games companies. The cross-platform portfolio focuses on multiplayer games. Xterio, which is based in Zug, will use the funding to develop and publish its own games, which are expected in the autumn.
Games from partners will be available on the platform too, while “new first-class IP” will also be created. The platform will be home to a social community, with Xterio believing that "the assets you win or buy in-game should be yours".
“We believe that Web3 has the potential to provide new ways for users and content creators to create, distribute and engage in games,” commented Chris Petrovic, Chief Business Officer of FunPlus and Member of the Board of Xterio Foundation. He added that Xterio has “the right team, the right technology and the right approach”.
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