Xternity Web3 gaming platform raises $4.5M, launches open beta

Xternity has announced that it has successfully secured $4.5 million in funding from notable investors in the gaming and Web3 space, including NFX, Vgames, Jibe Ventures, Flori Ventures, and Secret Chords. Xternity has now launched the public BETA version of its Web3 game platform, featuring a large-scale NFT platform, multi-chain API games, a customized wallet, and more.

Xternity secures $4.5 million in funding

While Bitcoin (BTC) succeeded in bringing distributed ledger technology (DLT) into the limelight over the past decade, several other innovative use cases of blockchain have sprung up in recent years, with the gaming and metaverse sector currently occupying the frontline of the fledgling industry amidst crippling bear markets.

In the latest development, Xternity, an Israel-based  Web3 gaming metaverse that is on a mission to build a robust ecosystem for player empowerment, has raised $4.5 million via its latest funding round, with participation from notable players in the Web3 space, including NFX, Secret Chords, Vgames, and Jibe Ventures,  

Per a press release shared with crypto.news, in addition to its successful fundraiser, Xternity has now rolled out the open BETA version of its gaming solution. The team has hinted that the Xternity Beta comes with various exciting features for gamers, including a multi-chain application programming interface (API), large-scale NFT platform, and Web3 CRM solution that is already live on leading blockchains, including Polygon, ImmutableX, Solana, and Celo.

Xternity accelerating Web3 gaming adoption

Blockchain gaming has surged in popularity in recent years and the metaverse and NFT trend are showing no signs of slowing down just yet. 

According to DappRadar, blockchain gaming, and metaverse projects raised an impressive $1.3 billion in Q3, 2022 alone. 

Xternity was co-founded by Sagi Maman (CEO) and Shahar Asher (CTO) with the mission to support game developers to build the future of Web3 gaming by empowering players with true digital ownership of their in-game items.

While more and more blockchain gaming projects keep springing up with each passing day, Xternity stands itself out from the crowd by building no-code solutions designed to help game creators boost player engagement, especially among people in the Gen Z category. Xternity functions as a meta layer that can be seamlessly integrated into any game.

Commenting on the latest milestone, Sagi Maman, Xternity CEO , and former Playtika said:

“Xternity continuously strives to define and build a long-term solution with valuable utility for the user. We believe that mass adoption of Web3 is possible only with simple, safe, and scalable technology built upon a sustainable engagement economy.”

Xternity CTO Shahar Asher says the platform makes it possible for game developers to work with different blockchains simultaneously at scale while having a unified code experience. Developers can also add NFT assets, and game economy layers easily while focusing on their core mission.

Also commenting on the successful fundraiser and beta launch, Gigi Levy Weiss, General Partner at NFX said:

“Xternity’s founders are utilizing their unique perspectives of both game monetization and scalable platforms to build the ultimate Web3 ecosystem for games. By understanding game developers’ need for scalable infrastructure and sustainable economic models, they were able to create a seamless solution that safely onboards Web2 games to Web3, and the current framework is just the first milestone.”