UAE-based Web3 gaming platform Exverse, has raised a private funding round of $3 million aimed to prepare for its upcoming alpha launch and token release, as well as to establish strategic partnerships and expand its marketing initiatives across the Asia-Pacific (APAC) region.
The funding was led by prominent investors such as Cogitent Ventures, Cointelligence, and Moonrock Capital, the funding round also saw participation from industry heavyweights including KuCoin Labs, Epic Games, Seedify, and ChainGPT.
Fei Ooi Hoong, CEO of Exverse, expressed the company’s pioneering vision, stating, “We see ourselves as pioneers in the gaming industry because we’ve built an AAA-quality, classic first-person shooter with Web3 elements.” Emphasizing the importance of delivering a fun and visually captivating game before integrating token mechanics, Hoong believes Exverse is poised to captivate audiences in a manner reminiscent of beloved gaming titles like ‘Call of Duty,’ ‘Halo,’ and ‘Counter-Strike.’
Founded in 2020 by Nikita Uriupin, Exverse aims to offer players an immersive and advanced gameplay experience, by bringing traditional AAA-quality first-person shooter gaming to the Web3 space.
Powered by Epic’s Unreal Engine 5, Exverse leverages blockchain technology to enhance the gaming experience, striking a delicate balance between realism and enjoyment. The game enables players to earn rewards by staking tokens before each season, with top performers receiving a share of profits from in-game non-fungible tokens (NFTs) such as cosmetics and skins.
The deathmatch-style tournament set on the game’s Battle Planet will precede Exverse’s token launch, providing early waitlist members with an exclusive opportunity to showcase their skills.
Investors like Sayantan Mitra, a partner at Cogitent Ventures, and industry insiders have echoed their confidence in Exverse’s innovative approach. Mitra expressed excitement about investing in Exverse, highlighting the company’s fusion of Web2 and Web3 elements and its strong leadership team.