TechFlow news — Web3 gaming developer and publisher Xterio has raised $40 million in a funding round co-led by game developer FunPlus, Makers Fund, FTX Ventures, and blockchain gaming platform XPLA. Other investors include Animoca Brands, HashKey, Foresight Ventures, Infinity Ventures Crypto, Matrix Partners, and Bas1s Ventures. The new capital will be used to develop and launch Web3 games and expand its team. Xterio expects to release multiple games for mobile and browser platforms in the "coming quarters."
Xterio co-founder Jeremy Horn said this was the company's first fundraising effort, conducted via a SAFT (Simple Agreement for Future Tokens) sale, which values Xterio at $300 million.
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