Exverse nabs $3 million in private round to bring Web3’s ‘Call of Duty’ to life.
Posted: February 15, 2024 1:34 PM Updated: February 15, 2024 1:34 PM
Dubai, UAE, February 15, 2024, Chainwire
As the gameplay-first project prepares for its upcoming alpha and token launch, Exverse is working on improvements and community building with support from leading incubators and launchpads, including KuCoin Labs, Seedify, Epic Games, and ChainGPT.
Exverse, a free-to-play game that brings AAA first-person shooters to Web3, has raised $3 million in a private round led by Cogitent Ventures, Cointelligence, and Moonrock Capital. With additional support from industry leaders such as KuCoin Labs, Epic Games, Seedify, and ChainGPT, these funds will strengthen the game’s testnet and token launch readiness, build additional strategic partnerships, and expand marketing efforts in the APAC region.
Among other issues, last cryptocurrency winter highlighted the unsustainable business models of early Web3 games. These criticisms are solid, but the unsustainable model stems from the Web3 Games project, which consistently prioritizes tokenomics and flashy trailers instead of building high-quality games that resonate with mainstream gamers and cryptocurrency enthusiasts alike. In many cases, projects launched tokens or marketplaces before they even launched live demos, which resulted in many games being abandoned or exploited before they even got off the ground.
Before closing its private seed round, Exverse established strategic partnerships with a variety of companies to ensure startups have all the tools to develop the most powerful games along with a solid business model and marketing strategy. Seedify and KuCoin Labs provided guidance and mentorship through an incubation program with ChainGPT preparing Exverse for future launches, while Maven Capital advised the startup on its go-to-market strategy.
Spanning three planets, the Exverse ecosystem focuses on competitive and intuitive mechanics, a fluid physics engine, and dynamic visuals to provide gamers with an immersive experience and advanced gameplay. Exverse’s three planets (Social, Quest, and Battle) accommodate different play styles while being interconnected within a single timeline where users compete in cycles called seasons that last eight weeks. The game is designed to foster community by allowing players to participate in social events and develop user-generated worlds within an ever-expanding universe.
Built using Epic’s Unreal Engine 5, Exverse leverages blockchain technology to strike a balance between enjoyable, realistic, and immersive real-time gameplay. The game prioritizes skill over a paid two-win mechanic, allowing players to earn rewards by staking tokens before the season begins, with top performers receiving a portion of the profits in in-game NFTs like cosmetics and skins.
Ahead of the upcoming alpha launch in March with a tournament open to 5,000 players, Exverse has already surpassed 65,000 confirmed sign-ups. A deathmatch-style tournament taking place on the game’s Battle Planet will precede Exverse’s token release and give early runners an exclusive opportunity to test their skills.
“We consider ourselves a pioneer in the gaming industry because we have built classic first-person shooters in AAA quality with Web3 elements,” says Fei Ooi Hoong, CEO of Exverse. “Our hybrid approach is the result of understanding that for NFT or blockchain games to succeed after a bull market, they must appeal to gamers in the same way as beloved titles like ‘Call of Duty,’ ‘Halo,’ and ‘Counter.’ -We went on strike. We decided to first focus our efforts on developing a fun and visually appealing game, and then work strategically on the token mechanism in a way that rewards skill before conducting an IDO.”
“We are excited to invest in promising gaming projects like Exverse, which elegantly blends the best of Web2 and Web3,” said Sayantan Mitra, Partner at Cogitent Ventures. “They boast strong, visionary leadership along with a talented group of developers, and we’re excited to see their project develop over the coming months.”
“It’s been a pleasure working closely with the Exverse team during their incubation period,” says Seedify’s Esport Manager. “They had a great vision, talented leadership, and an impressive team of developers that enabled us to get the most out of our incubator. Seedify is working closely with Exverse to help the team prepare for testnet launch and provide extensive support, guidance and infrastructure.”
Introduction to Xverse
Headquartered in Dubai and founded by Nikita Uriupin, Exverse is an innovative gaming studio focused on competitive mechanics, smooth gameplay, and community development. With a dedicated team of talented developers and gaming veterans, Exverse is on a mission to redefine the gaming industry by bringing traditional AAA quality first-person shooters to the Web3 space.
Users can follow Exverse. Twitter Stay tuned for more updates.
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Chainwire is a leading blockchain and cryptocurrency news provider distributing press releases and maximizing cryptocurrency news coverage.