Web3 mobile gaming startup Matr1x has raised $10 million in its latest funding round towards development of its first Web3 title, doubling its total investments to $20 million in the process.
This first title, Matr1x Fire, is a mobile team shooter with NFT features, leveraging Matr1x’s experience in non-fungibles with two NFT collections already under its belt. Matr1x Kuku, a third collection, is also in development.
Bringing the heat
The Singapore-based Web3 maker’s latest funding round was led by Folius Ventures and SevenX Fund with further participants including ABCDE Capital, Find Satoshi Lab, Jambo and Initiate Capital.
It follows a September 2022 round that confirmed three titles in development - Matr1x Fire, Matr1x War and Matr1x Evolution - with Matr1x Fire in particular being accelerated by this new 2023 funding.
Characters in Matr1x Fire each have their own backstory explaining why they’ve joined the fight, be they a virtual idol turned self-aware, Bushido-spirited AI, or pigtail-wearing, bubblegum-blowing bandit. The Web3 game will feature a variety of game modes including Competitive, Deathmatch and Teammatch, with plenty of weapons and maps to choose from.
"BANG BANG BANG! We've hit a monumental $10M in our A-2 funding round, skyrocketing our total to $20M. A rousing welcome to our new allies," Matr1x tweeted. "To our esteemed veteran investors - Hana Financial Investments, HashKey Capital, Amber Group, SevenXVentures and 7upDAO - immense thanks! You've been the wind beneath our wings."
New Web3 games may not be as prevalent today as they were back in 2021 - a time when games like Axie Infinity were taking the world by storm - but there are still new players joining the space. This September, for example, Zynga, FunPlus and NetEase veterans received an $8 million investment towards a new NFT dinosaur game, Age of Dino. More recently, we spoke with Immutable’s VP of game design and game director Chris Clay about unlocking Web3's potential.