Web3 game publisher Xterio raises $40 million

Xterio, a Switzerland-based Web3-game publisher, raised $40 million in a funding round led by FunPlus, with participation from venture firms Makers Fund and FTX Ventures, and the gaming platform XPLA. The Block reports this.

Animoca Brands, HashKey, Foresight Ventures, Infinity Ventures Crypto and Matrix Partners also participated in the round. The fundraising used the SAFT model.

Co-founder of Xterio, Jeremy Horn, told the publication that the startup’s valuation had reached $300 million.

The funds will be directed to developing mobile and browser-based Web3 games, as well as hiring staff. The team currently numbers 60 employees, including former executives from Electronic Arts, Activision Blizzard, Krafton and FunPlus.

Earlier ForkLog reported that the studio Limit Break raised $200 million to integrate Web3 elements into the Free-to-Play model.

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