Xterio to Focus on High Quality Free-to-Play Games Building Path for True Player Ownership
ZUG, Switzerland–(BUSINESS WIRE)–Xterio, on a mission to develop, publish and distribute high-quality mobile and Web3 games, has raised $40M funding led by FunPlus, Makers Fund, FTX Ventures, and XPLA with notable participation from HashKey, Foresight Ventures, Infinity Ventures Crypto, Matrix Partners and Animoca Brands. The platform, helmed by game executives from FunPlus, Electronic Arts, Activision Blizzard, Krafton, Jam City, NetEase and other top games brands, brings together experience from leading companies across technology, entertainment, mobile and free-to-play game 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 partners’ games, create new world-class IP and to continue development on the Xterio platform, which will house a marketplace, social community hub and more. Multiple games are currently in development with product announcements coming this fall.
Xterio’s executive team builds upon decades of experience from global leaders in technology, games and entertainment. Co-Founder Jeremy Horn, formerly Vice-President of Strategy at Jam City, is 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, a 25+ year industry veteran, will drive 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 Jeremy 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.”
“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. “Xterio has the right team, the right technology and the right approach to be builders in these early days of creating the next generation developer and publisher designed for the Web3 era. They understand that ultimately the entertainment value of experiences must come first to truly deliver the promise of Web3 in the long run.”
Xterio Foundation in Switzerland was founded with a Council and a team of technology and entertainment leaders with deep free-to-play games experience, on a mission to develop, publish and distribute high-quality Web2 and Web3 games and interactive entertainment.
Xterio is also hiring https://www.linkedin.com/company/xterio/.
FunPlus is a world-class, 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 fosters top creative talent with more than 2,000 team members worldwide. Ranked #1 Global Publisher in Strategy Games (2019 and 2020), FunPlus is home to KingsGroup studio who develops hugely popular mobile strategy titles including 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 Studios working on its first original AAA development. The company is also the founder of FPX（FunPlus Phoenix), one of the world’s most successful esports organizations, 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 building in crypto and Web3. The fund provides flexible funding and strategic support from FTX and its network of global partners. FTX Ventures currently manages $2B in AUM. To learn more about 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 furthering growth and innovation in the interactive entertainment industry. With more than 90 portfolio companies to date, Makers provides founders strategic value that is deeply catered to companies across the value chain in the industry.
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 newest innovation in the Web3 gaming space, using COSMOS SDK for optimization. This new infrastructure serves as the bridge between Web2 and Web3 services, and will feature games, art, music and Dapps based on community-driven feedback from users. XPLA places heavy emphasis on User Experience and accessibility to craft the standard in game centric Web3 services, opening up limitless possibilities for blockchain gaming
For more information, please visit https://www.xpla.io/
fortyseven communications for Xterio