Xterio Has Raised $40 Million to Create Their New Large-Platform Web3 Franchise

Image 1 : Xterio Website
Image 1 : Xterio Website

Xterio is a company that has set out with the mission of developing, publishing and distributing high-quality mobile and Web3 games. The company was led by FunPlus, MakersFund, FTX Ventures and XPLA. During the highly attended round, Xterio raised $40 million in funding from HashKey, Foresight Ventures, Infinity Ventures Crypto, Matrix Partners and Animoca Brands. This Platform is managed by executives of leading companies in technology, entertainment, mobile and free game design and operations such as FunPlus, Electronic Arts, Activision Blizzard, Krafton, Jam City, NetEase. 

Xterio’s cross-platform portfolio will be used for multiplayer games with rich gaming experiences and player ownership. The financing will be used to develop and publish the games of its partners, as well as to create a new first-class IP and Sunday place, in addition to its own games. In addition, it will be used to continue the development of the Xterio platform, which will also include a social responsibility center and much more. Product announcements and multiple games due next fall are currently in development.

The executive staff of Xterio is based on the experience of world leaders in the field of technology, gaming and entertainment. Co-founder Jeremy Horn is a former Vice President of Strategy at Jam City, a gaming industry veteran with deep experience in developing and maintaining top-selling, free social games across multiple platforms. CTO Yitao Guan, co-founder of FunPlus, will oversee Xterio’s strategic and technical product focus, and CMO Darion Lowenstein, an industry veteran of more than 25 years, will lead marketing, publishing and licensing. 

Regarding to the Investment Round

“At Xterio, we’re building a great gaming platform that combines how people play today with the power of Web3 for tomorrow,” said Jeremy Horn. “We believe that ownership increases the game, but we are most interested in creating long-lasting series and rich gaming experiences. We will build our games in a way that will be fun and engaging for both traditional gamers and Web3 viewers, so that gamers of all types can enjoy.”

“Games and interactive entertainment are always at the forefront of innovation, and FunPlus has a 10-year history of innovation on the web and mobile. Our belief is that Web3 has the potential to provide consumers and content creators with new ways to create, distribute, and participate,” said Chris Petrovic, FunPlus’ Chief Operating Officer and Xterio Foundation Council Member. “Xterio has the right team, the right technology and the right approach to be the builders in these early days of creating the next generation of developers and publishers designed for the Web3 era. They understand that the entertainment value of experiences must come eventually in order to truly fulfill the promise of Web3 in the long run.”

Image 2 : Xterio Website
Image 2 : Xterio Website

About Xterio

The Xterio Foundation in Switzerland was founded with a mission to develop, publish and distribute high-quality Web2 and Web3 games and interactive entertainment, with a Council with deep free gaming experience and a team of technology and entertainment leaders.

About FunPlus

FunPlus is a premium, independent game developer and publisher headquartered in Switzerland, with offices and operations in China, Japan, Singapore, Spain, Sweden and the United States. Founded in 2010, FunPlus is an organization that supports the best creative talents with more than 2,000 team members worldwide. FunPlus, the #1 Global Publisher in Strategy Games (2019 and 2020), is home to the KingsGroup studio, which develops extremely popular mobile strategy games such as State of Survival, King of Avalon and Guns of Glory. FunPlus has also positioned itself in the RPG puzzle genre with Call of Antia. in 2021, FunPlus acquired Imagendary Studiosworking on the first original AAA development. The company is also one of the most successful esports organizations in the world, FPXCompany is also the founder of FunPlus Phoenix and the 2019 League of Legends World Champions.) 

About FTX Ventures

FTX Ventures is a multi-stage venture capital fund focused on supporting the world’s best teams in the field of crypto and Web3. The fund provides flexible financing and strategic support from FTX and its global network of partners. FTX Ventures currently manages $2 billion in AUM.

About XPLA

XPLA is the next generation Web3 master network developed with gamers at the heart of its design. Based on the idea of ”Explore and Play”, XPLA is the latest innovation in the Web3 gaming space that uses the COSMOS SDK for optimization. This new infrastructure acts as a bridge between Web2 and Web3 services and will include games, art, music and Dapps based on community-oriented feedback from users.  XPLA places great emphasis on User Experience and accessibility to set the standard in gaming-centric Web3 services, providing unlimited possibilities for blockchain gaming.

Nothing on the website (cryptodataspace.com) constitutes professional and/or financial advice. All the content on the website is for informational purposes only. We have prepared all information herein from sources we believe to be accurate and reliable. However, such information is presented as is,” without warranty of any kind – whether expressed or implied. You acknowledge and agree that there are numerous risks associated with purchasing cryptocurrencies.