Xterio has raised $40 million in a round led by FunPlus and FTX
Xterio, a company focused on developing and marketing mobile games and first-class Web3 has successfully raised $40 million. From FTX Ventures, FunPlus, Makers Fund, XPLA, and others, this information comes to light via a press statement.
This latest investment brings Xterio’s total funding to date to $54 million. Xterio will use the new capital to fuel the growth of its games business and expand into new markets.
“The Xterio team has a strong track record in delivering high-quality games that resonate with players around the world,” says FTX Ventures Managing Partner Melissa Guzy. “We’re excited to partner with Xterio as they continue to build a leading games company.”
Infinity Ventures Crypto, HashKey, and Animoca Brands also participated in the round.
Creating a partnership between industry leaders
Xterio combines the expertise of industry experts from fields such as entertainment, technology, mobile, and free-to-play game design. Multiplayer games with ownership and immersive gaming experiences at their core would be emphasized in its cross-platform portfolio.
Xterio’s games will let players use, own, and trade their game items on platforms like the FTX NFT Marketplace. Xterio is also building a fund to invest in Web3.0 games and NFT projects.
“The Xterio team has an exceptional track record in delivering high-quality games that resonate with players. We’re thrilled to be working with them to create the next generation of Web3.0 games,” says Sam Bankman-Fried, CEO of FTX.
“FunPlus is excited to invest in Xterio and help them build a portfolio of hit games that push the boundaries of what’s possible in free-to-play gaming,” says Andy Zhong, CEO of FunPlus.
Funds will be used to build and publish games
The money will go into developing, publishing, and partners’ games, as well as helping, to create new IPs. Xterio development will grow with a social networking platform that has a marketplace and additional features.
The team at Xterio is excited to announce their upcoming games this fall! With a wealth of experience in developing and sustaining free-to-play games. Cofounder Jeremy Horn is bringing his expertise to the table for these new titles. He comments:
“Xterio is building a state-of-the-art games platform that seamlessly transitions between how people play today and the power of Web3. We believe that ownership enhances gameplay, but our priority is to create rich gameplay experiences and long-lasting franchises. Our goal is to make engaging and exciting games for both the Web3 audience and traditional gamers alike.”
Chief Business Officer of FunPlus Chris Petrovic adds:
“Interactive games have long been at the forefront of technological progress. FunPlus’s decade-long history of developing across web and mobile has been marked by the idea that Web3 offers new possibilities for consumers and content producers to develop, distribute, and engage with their content. Xterio is on the right track with its technology and team- they have what it takes to be a top developer and publisher of experiences for Web3. What’s more, they realize that immersive entertainment value must come first to deliver on the long-term potential of Web3.”
Xterio is a game development and publishing studio based in Seattle, WA. They are building the first AAA-quality games for Web3.0 blockchains. Xterio was founded in 2019 by veterans of Microsoft, Amazon, and Ubisoft.
The firm has successfully raised $40 million in funding from leading investors including FunPlus, FTX, and Galaxy Interactive.
Xterio has raised $40 million in a round led by FunPlus and FTX. Xterio is a game development and publishing studio based in Seattle, WA that is building the first AAA-quality games for Web3.0 blockchains.
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