Quick take:
- Xterio’s cross-platform portfolio will focus on multiplayer games.
- Funds will be used to develop and publish its own games as well as partners’ games.
- The Xterio platform will house a marketplace, social community hub and more.
Switzerland-based free-to-play-and-earn game publisher and developer, Xterio, today announced that it has raised $40 million to create mobile and Web3 games. The round was led by FunPlus, Makers Fund, FTX Ventures, and XPLA with participation from HashKey, Foresight Ventures, Infinity Ventures Crypto, Matrix Partners and Animoca Brands.
Through this fundraise, FunPlus will be Xterio’s exclusive partner in Web3 games. FunPlus is an independent game developer and publisher headquartered in Switzerland with more than 2,000 employees worldwide.
Xterio’s cross-platform portfolio will focus on multiplayer blockchain games with player ownership at their core. The fresh funds will be used to develop and publish Xterio’s own games as well as its partners’ games, create new IP, and continue developing the platform.
“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,” said Chris Petrovic, Chief Business Officer, FunPlus and Council Member of the Xterio Foundation.
The Xterio platform will house a marketplace, social community hub and more. Currently, the platform is developing multiple games, with product announcements coming this fall.
Helmed by game executives from FunPlus, Electronic Arts, Activision Blizzard, Krafton, Jam City, NetEase and other top games brand, Xterio brings together experience from well-known companies across technology, entertainment, mobile and free-to-play game design and operations.
The platform’s executive team is made up of co-Founder Jeremy Horn, formerly Vice-President of Strategy at Jam City, a games industry veteran with deep expertise in developing and sustaining top-grossing social free-to-play games across multiple platforms. CTO Yitao Guan, who co-founded FunPlus, will oversee Xterio’s strategic and technical product focus, and CMO Darion Lowenstein, an industry veteran with over 25 years of experience, will lead marketing, publishing and licensing.
“At Xterio, we are building an amazing games platform that bridges how people play today with the power of Web3 for tomorrow,” said Horn. “We believe that gameplay is enhanced by ownership, 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.”
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