Exverse, a Dubai, UAE-based free-to-play game provider bringing AAA first-person-shooters to Web3, raised $3M in funding.
The round was led by Cogitent Ventures, Cointelligence, and Moonrock Capital, with participation from industry leaders such as KuCoin Labs, Epic Games, Seedify, and ChainGPT.
The company intends to use the funds to expand operations and development efforts.
Founded by Nikita Uriupin and led by CEO Fei Ooi Hoong, Exverse is a gaming studio focused on bringing traditional AAA-quality first-person shooter gaming to the Web3 space. Built using Epic’s Unreal Engine 5, Exverse utilizes blockchain technology to balance realistic, and immersive real-time gameplay. The game prioritizes skill over pay-2-win mechanics, enabling players to earn rewards by staking tokens before a season’s kickoff, with top performers receiving a share of profits from in-game NFTs such as cosmetics and skins.
Exverse’s three planets—Social, Quest, and Battle—cater to different playing styles while remaining interconnected within a single timeline, where users compete in cycles known as seasons, lasting eight weeks.
Commenting on the news, Fei Ooi Hoong said: “Our hybrid approach is the result of our understanding that for NFT or blockchain games to succeed post-bull market, they need to appeal to gamers in the same way as beloved titles like ‘Call of Duty,’ ‘Halo,’ and ‘Counter-Strike’ have. We decided to focus our efforts first on developing a fun and visually captivating game, and only then strategically working in the token mechanics in a way that rewards skill—all before conducting an IDO.”
FinSMEs
15/02/2024