News Report Technology
November 23, 2023

Game Studio Matr1x Raises $10 Million to Expand Web3 Mobile Gaming Platform

In Brief

Singapore-based NFT gaming company Matr1x raised an additional $10 million to boost its mobile Web3 gaming project.

Game Studio Matr1x Raises $10 Million to Expand Web3 Mobile Gaming Platform

Singapore-based NFT gaming company, Matr1x – the platform behind the mobile shooting game Matr1x Fire, has raised an additional $10 million for its mobile gaming project. With this successful round of A-2 financing, the company has now raised a total funding of $20 million.

Folius Ventures, a Web3 fund with a focus on APAC projects, led the financing round with SevenX serving as the co-lead. Other notable investors include ABCDE Capital, Find Satoshi Lab, Initiate Capital and Jambo.

“Esports’ burgeoning importance in the gaming world can’t be understated, and Matr1x wants to be a part of this exciting time in the space. In recent months, we have seen massive commitments being made to Esports globally, demonstrating the current appetite in the space as a source of entertainment,” said Matr1x’s co-founder Madeira.

“The initial Esports Olympics in Singapore further cemented the genre’s global appeal, with first-person shooter games making a significant impact. Our team has seen the gap in the market and wants to make this entertainment accessible to audiences worldwide. Today’s investment marks an exciting stage in our journey in doing so”, Madeira added.

The funding injection comes at a time of high growth for Matr1x, following a successful Alpha testing phase in August. During this period, the game garnered 200,000 registrations, 100,000 downloads and 15,000 daily active users, with an average session time of two hours per day.

Commenting on the recent funding, Jason Kam, founder of Folius Ventures stated, “Matr1x has real potential in exploring the uncharted for this industry. It strikes an elegant balance that may, in the best case, help it achieve critical scale, appeal to the mass market, become sustainably lucrative, while side-stepping the Web3 death spiral altogether.”

Plans to Launch Third NFT Collection

Matr1x is currently releasing two NFT collections and is in the planning stages for a third collection – the upcoming mint of Kuku.

According to the gaming studio, the upcoming collection will serve as a membership pass for “governance access and revenue sharing of its creator economy.” Additionally, buyers will receive an upgradeable battle pet as part of the package.

Matr1x Fire is the studio’s flagship product and is developed by a team of executives from top gaming studios, combines gameplay, Esports integration and NFT functionalities, positioning it as one of the prominent players in the current Web3 landscape.

The game is part of a trilogy that delves into the conflict between centralized and decentralized data entities. The strong emphasis on data sovereignty, coupled with the project’s commitment to promoting NFT transferability throughout the series, has garnered significant attention from industry influencers.

Disclaimer

In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.

About The Author

Kumar is an experienced Tech Journalist with a specialization in the dynamic intersections of AI/ML, marketing technology, and emerging fields such as crypto, blockchain, and NFTs. With over 3 years of experience in the industry, Kumar has established a proven track record in crafting compelling narratives, conducting insightful interviews, and delivering comprehensive insights. Kumar's expertise lies in producing high-impact content, including articles, reports, and research publications for prominent industry platforms. With a unique skill set that combines technical knowledge and storytelling, Kumar excels at communicating complex technological concepts to diverse audiences in a clear and engaging manner.

More articles
Kumar Gandharv
Kumar Gandharv

Kumar is an experienced Tech Journalist with a specialization in the dynamic intersections of AI/ML, marketing technology, and emerging fields such as crypto, blockchain, and NFTs. With over 3 years of experience in the industry, Kumar has established a proven track record in crafting compelling narratives, conducting insightful interviews, and delivering comprehensive insights. Kumar's expertise lies in producing high-impact content, including articles, reports, and research publications for prominent industry platforms. With a unique skill set that combines technical knowledge and storytelling, Kumar excels at communicating complex technological concepts to diverse audiences in a clear and engaging manner.

Hot Stories
Join Our Newsletter.
Latest News

The DOGE Frenzy: Analysing Dogecoin’s (DOGE) Recent Surge in Value

The cryptocurrency industry is rapidly expanding, and meme coins are preparing for a significant upswing. Dogecoin (DOGE), ...

Know More

The Evolution of AI-Generated Content in the Metaverse

The emergence of generative AI content is one of the most fascinating developments inside the virtual environment ...

Know More
Join Our Innovative Tech Community
Read More
Read more
AI Coins Surge After Bitcoin Halving: A Comprehensive Look at the Market’s Evolution and Future Trends
Markets Stories and Reviews Technology
AI Coins Surge After Bitcoin Halving: A Comprehensive Look at the Market’s Evolution and Future Trends
April 25, 2024
The Dark Side of Deepfakes: How Malicious Actors Use Synthetic Media to Manipulate and Deceive
Lifestyle Software Stories and Reviews Technology
The Dark Side of Deepfakes: How Malicious Actors Use Synthetic Media to Manipulate and Deceive
April 25, 2024
Avail To Integrate With Arbitrum, Optimism, Polygon, StarkWare, And zkSync, Providing Data Availability
News Report Technology
Avail To Integrate With Arbitrum, Optimism, Polygon, StarkWare, And zkSync, Providing Data Availability
April 25, 2024
Subsquid Partners With Neon EVM To Expand Into Solana Blockchain And Empower DApp Developers
Business News Report Technology
Subsquid Partners With Neon EVM To Expand Into Solana Blockchain And Empower DApp Developers
April 25, 2024