Game publisher and developer Xterio announced that it has raised $40 million in finance with noteworthy contributions from HashKey, Foresight Ventures, Infinity Ventures Crypto, Matrix Partners, and Animoca Brands. The company’s goal is to create, produce, and distribute high-quality mobile and Web3 games.
The platform brings together expertise from major organisations spanning technology, entertainment, mobile, and free-to-play game design and operations. It is led by game executives from FunPlus, Electronic Arts, Activision Blizzard, Krafton, Jam City, NetEase, and other major gaming brands.
The cross-platform portfolio of Xterio will be centred on multiplayer games that place player ownership and rich, in-depth gaming experiences at their core.
The funds will be used to continue building the Xterio platform, which will eventually include a marketplace, social community hub, and other features, as well as to develop and distribute the company’s own games as well as those of its partners. A number of games are now being developed, which is expected to be announced sometime in fall.
The management team of Xterio draws on years of expertise from veterans in technology, gaming, and entertainment all around the world.
Jeremy Horn, co-founder and former vice president of strategy at Jam City, has extensive experience creating and maintaining top-grossing social free-to-play games across various platforms.
In addition, CMO Darion Lowenstein, a 25+ year industry veteran, will supervise marketing, publishing, and licencing. CTO Yitao Guan, who co-founded FunPlus, will be in charge of Xterio’s strategic and technical product focus.
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.
Jeremy Horn
With a purpose to create, publish, and share top-notch Web2 and Web3 games and interactive entertainment, the Xterio Foundation was established in Switzerland with the help of a Council and a team of technological and entertainment executives with extensive experience in free-to-play games.
