Web3 game developer Xterio raises $40 million in SAFT sale by Yogita_Khatri5
The funding was raised via a SAFT sale, Xterio co-founder Jeremy Horn told The Block.
Other investors in the round included Animoca Brands, HashKey, Foresight Ventures, Infinity Ventures Crypto and Matrix Partners, Xterio announced Tuesday. This was Xterio's first fundraise and realized via a simple agreement for future tokens sale, co-founder Jeremy Horn told The Block in an interview. The round brings Xterio's valuation to $300 million, he added.
Horn also declined to comment on which blockchain Xterio is using for its native token but said it'll be a"utility" token to reward users and partners. Xterio will first publish its own games and then add partners' games in the future, said Horn. Xterio is expected to release multiple games"in the upcoming quarters" for both mobile and browser interfaces.
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