Xterio to Focus on High Quality Free-to-Play Games Building Path for True Player Ownership
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.
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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.
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“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.”
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