As the company uses this funding, it will use it primarily to focus on multiplayer games (their own as well as partners)
Xterio, a Switzerland-based game publisher and developer, has announced $40 million in funding to create Web3 games. The company develops free-to-play play-to-earn games. The funding round was led by FunPlus, FTX Ventures, Makers Fund, and XPLA. Foresight Ventures, Matrix Partners, Animoca Brands, HashKey, and Infinity Ventures Crypto also participated in the funding round.
Now that Xterio has raised the funding, FunPlus will be its exclusive partner when it comes to developing Web3 games. Just like Xterio, FunPlus is also headquartered in Switzerland, incorporating over 2000 employees.
In its cross-platform portfolio, Xterio will focus on developing multiplayer blockchain-based games where decentralization and player ownership are the core concepts. The funding will be used to develop Xterio’s own games as well as parters’ – the motivation is to continue growing the platform in the Web3 space.
“Games and interactive entertainment are always at the forefront of innovation, and FunPlus has a 10-year history of innovating across web and mobile. Our belief is that Web3 has the potential to provide consumers and content creators with new ways to create, distribute and engage.”
Chris Petrovic, Chief Business Officer at FunPlus and Council Member of the Xterio Foundation.
Currently, Xterio is developing multiplayer games. The platform will announce a marketplace and a social community hub in the future. This fall, they will announce more stuff.
Jeremy Horn, Co-Founder of Xterio and a games industry veteran, believes that his company is powering the Web3 for tomorrow.
“At Xterio, we are building an amazing games platform that bridges how people play today with the power of Web3 for tomorrow…We believe that ownership enhances gameplay, 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,” said Horn.
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