ZUG, Switzerland–(COMMERCIAL WIRE)–Xterio, with a mission to develop, publish and distribute high-quality mobile and Web3 games, has raised $40 million led by FunPlus, Makers Fund, FTX Ventures and XPLA with notable participation from HashKey, Foresight Ventures, Infinity Crypto Ventures, Matrix Partners and Animoca Brands. Led by gaming executives from FunPlus, Electronic Arts, Activision Blizzard, Krafton, Jam City, NetEase and other major gaming brands, the platform brings together the expertise of leading companies in free-to-play and mobile game technology, entertainment, design and operations. .
Xterio’s cross-platform portfolio will focus on multiplayer games with deep, rich gaming experiences and player ownership at their core. The funding will be used to develop and publish its own games as well as partner games, create new world-class IP, and continue development on the Xterio platform, which will host a marketplace, social community hub, and more. Several games are currently in development, with product announcements coming this fall.
Xterio’s executive team draws on decades of experience from world leaders in technology, gaming and entertainment. Co-founder Jeremy Horn, former Vice President of Strategy at Jam City, is a games industry veteran with extensive experience developing and maintaining high-grossing free-to-play social games across multiple platforms. CTO Yitao Guan, who co-founded FunPlus, will oversee Xterio’s strategic and technical product approach, and CMO Darion Lowenstein, an industry veteran of more than 25 years, will drive marketing, publishing and licensing.
“At Xterio, we’re building an amazing gaming platform that connects the way people play games today with the power of Web3 for tomorrow,” said Jeremy Horn. “We believe that the game improves with ownership, but what we are most interested in is creating lasting franchises and rich gaming 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 gamer can enjoy.”
“Games and interactive entertainment are always at the forefront of innovation, and FunPlus has a 10-year history of innovation across the web and mobile devices. We believe that Web3 has the potential to provide consumers and content creators with new ways to create, distribute and engage,” said Chris Petrovic, Chief Commercial Officer of FunPlus and Xterio Foundation Board Member. “Xterio has the right team, the right technology and the right approach to be builders in these early days of creating the next generation of developers and publishers designed for the Web3 era. They understand that ultimately the entertainment value of experiences must come first to truly deliver on the promise of Web3 in the long run.”
The Xterio Foundation in Switzerland was founded with a Board and team of technology and entertainment leaders with deep free-to-play gaming experience, with a mission to develop, publish and distribute high-quality Web2 and Web3 games and interactive entertainment.
For more information visit www.xter.io and follow us on Discord, Instagram and Twitter.
Xterio is also hiring https://www.linkedin.com/company/xterio/.
About Fun Plus
FunPlus is a world-class independent game developer and publisher based in Switzerland, with offices and operations in China, Japan, Singapore, Spain, Sweden, and the United States. Founded in 2010, FunPlus is an organization that nurtures the best creative talent with over 2,000 team members worldwide. Ranked #1 Global Strategy Games Publisher (2019 & 2020), FunPlus is home to the KingsGroup studio, which develops wildly popular mobile strategy titles including State of Survival, King of Avalon, and Guns of Glory. FunPlus has also positioned itself in the puzzle RPG genre with Call of Antia. In 2021 FunPlus acquired Imagendary Studios working on their first original AAA development. The company is also the founder of FPX (FunPlus Phoenix), one of the most successful esports organizations in the world, and the 2019 League of Legends World Champions.
Visit www.funplus.com for more information and follow us on Facebook, Instagram, LinkedIn and Twitter for the latest news and job opportunities.
About FTX Ventures
FTX Ventures is a multi-stage venture capital fund focused on supporting the world’s best teams building in crypto and Web3. The fund provides flexible financing and strategic support from FTX and its network of global partners. FTX Ventures currently manages $2B in AUM. For more information on FTX Ventures, please visit http://ventures.ftx.com.
About Makers Fund
Makers Fund is a global interactive entertainment venture capital firm focused on early-stage investments. Makers is dedicated to promoting growth and innovation in the interactive entertainment industry. With more than 90 portfolio companies to date, Makers provides founders with strategic value that is deeply tailored to companies across the industry value chain.
For more information, visit makersfund.com.
XPLA is the next generation of Web3 mainnet, developed with gamers at the core of its design. Based on the idea of ”Explore and Play”, XPLA is the latest innovation in the Web3 gaming space and uses the COSMOS SDK for optimization. This new infrastructure serves as a bridge between Web2 and Web3 services, and will feature games, art, music, and Dapps based on community-driven user feedback. XPLA places great emphasis on user experience and accessibility to create the standard in game-focused Web3 services, opening up limitless possibilities for blockchain gaming.
For more information, visit https://www.xpla.io/