Crypto News

Xterio Closes Funding Round Worth Tens Of Millions Of Dollars

The blockchain gaming platform Xterio recently announced it closed a $40 million funding round that was led by FunPlus, FTX Ventures, Makers Fund, and XPLA. Other participants in the round included Hashkey, Foresight Ventures, Headline, Matrix Partners, and Animoca Brands.

This money will go towards game development and building out Xterio. This company was created to benefit both video game communities and their developers by combining play-to-earn gaming and GameFi-as-a-service products into one platform, leading to the creation and distribution of high-end Web3-based mobile games.

“Today, there’s no mass-market, fun, high-quality, high-fidelity game that incorporates Web3 and digital ownership in a meaningful way,” said Xterio’s co-founder, Jeremy Horn, in an interview CoinDesk. “When you look at our executive team, we’re very proven hitmakers… who have worked on games that have generated billions of dollars in revenue. We know how to make games and we’re going to put fun at the center of our releases.”

According to CoinDesk, Xterio will be announcing a blockchain gaming partner soon. Moreover, the platform’s first slate of games will be unveiled sometime this fall.

(All information was provided by CoinDesk and VentureBeat)

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