In a significant move for the gaming industry, Matr1x, the Singapore-based NFT gaming company, has secured an additional $10 million in funding for its mobile gaming projects. This funding is the result of a successful A-2 round that Folius Ventures led with SevenX as a co-lead investor. Other prominent investors include ABCDE Capital, Jambo, Initiate Capital, and Find Satoshi Lab, the creators of the upcoming Gas Hero game.
1. The Funding Landscape
Matr1x has successfully raised a total of $20 million in venture capital funding, with this latest round doubling the $10 million raised in 2022. The studio's flagship product, Matr1x Fire is a first-person shooter game for mobile devices, is at the forefront of their ambitious plans. The game allows players to select characters and compete in teams to eliminate enemies, reminiscent of Riot Games' popular shooter, Valorant.
1.1. Investor Perspectives
Folius Ventures founder Jason Kam expressed confidence in Matr1x's potential, especially in the current climate of the crypto industry. He emphasized the studio's ability to strike an elegant balance and potentially achieve critical scale, appealing to the mass market while avoiding the pitfalls of the Web3 industry's downturn.
2. Matr1x Fire: Aiming for Esports Glory
Matr1x Fire, still in development, aspires to create an esports scene around the game. However, comparisons with NetEase's Hyper Front have raised concerns among gamers. Notably, Riot Games sued Hyper Front's publisher, NetEase, for allegedly copying Valorant, resulting in the game's shutdown. Matr1x Fire has faced similar comparisons, being dubbed "Valorant mobile" or "Valorant lite."
2.1. Matr1x's Response
Matr1x has addressed these concerns, asserting that Matr1x Fire differs significantly from Hyper Front. The studio clarified that Matr1x Fire follows a Counter-Strike: Global Offensive (CS:GO) style, focusing on gunplay without heroes wielding special powers. The studio remains confident that Matr1x Fire will not face the same consequences as Hyper Front.
3. Funding Amidst Web3 Decline
The latest funding round for Matr1x comes at a time when Web3 startup funding is on the decline. According to TechCrunch, Q3 2023 marked the seventh consecutive quarter of decreased funding for Web3 startups. Despite this trend, investors like Folius Ventures see potential in Matr1x's unique approach to the gaming industry.
4. Matr1x's Future Plans
Matr1x plans to utilize the raised funds to accelerate the development of Matr1x Fire. The game studio has already released two NFT collections and is gearing up for a third collection, which will serve as a membership pass for governance access and revenue sharing in its creator economy. Buyers of this collection will also receive an upgradeable battle pet.
4.1. Matr1x Worldview Stories
In addition to its gaming developments, Matr1x has begun publishing extensive lore for Matr1x Fire through Matr1x Worldview Stories. These narratives provide insights into the game's world and the events leading to the war in the year 2061.
Conclusion
Matr1x's recent funding success underscores its potential to redefine the gaming industry. With a focus on NFTs, mobile gaming, and esports, Matr1x aims to carve out a unique space, navigating potential challenges carefully. As the gaming community eagerly awaits the release of Matr1x Fire, the studio's strategic funding will undoubtedly play a pivotal role in shaping its future.
Call to Action
Stay tuned for more updates on Matr1x Fire's development and the evolving landscape of NFT gaming. Engage with the gaming community and share your thoughts on Matr1x's trajectory and the broader trends in the gaming and NFT space.
Frequently Asked Questions
1. What is Matr1x Fire, and who is the game studio behind it?
Matr1x Fire is a first-person shooter game for mobile devices developed by Matr1x, an NFT gaming company based in Singapore. The studio behind it has recently raised $10 million in funding for its mobile gaming projects.
2. What is the significance of Matr1x Fire in the gaming industry?
Matr1x Fire is significant for its potential in creating an esports scene around the game. The studio aims to distinguish itself with a Counter-Strike: Global Offensive (CS:GO) style gameplay, focusing on gunplay without heroes wielding special powers.
3. What is the funding history of Matr1x, and who are the key investors in the latest round?
Matr1x has raised a total of $20 million in venture capital funding. The latest round, a $10 million A-2 round, was led by Folius Ventures and SevenX Fund. Other investors include ABCDE Capital, Jambo, Initiate Capital, and Find Satoshi Lab.
4. How does Matr1x address concerns about similarities to other games, like Hyper Front?
Matr1x asserts that Matr1x Fire is a CS:GO style game, different from Hyper Front. While comparisons exist, the studio emphasizes the unique gameplay focused on gunplay, without heroes wielding special powers or skills.
5. How does Matr1x plan to use the recently raised funds?
Matr1x intends to use the $10 million raised to accelerate the development of Matr1x Fire, its NFT mobile shooter game. The funds will support the studio's ambitious plans for the game and its related projects.
6. In what genre does Matr1x Fire fall, and how does it differ from other popular games like Valorant?
Matr1x Fire is a first-person shooter game that shares aesthetic similarities with Riot Games' Valorant. However, Matr1x distinguishes itself by adopting a CS:GO style, where players rely on gunplay and do not have special powers or skills.
7. How does Matr1x plan to engage players beyond the gaming experience?
Matr1x has released NFT collections and plans to introduce a third collection. This collection will act as a membership pass, offering governance access and revenue sharing in the creator economy. Additionally, buyers will receive an upgradeable battle pet.
8. How does Matr1x address concerns about potential legal issues, similar to what happened to Hyper Front?
Matr1x is confident that its NFT game, Matr1x Fire, is unlikely to face the same consequences as Hyper Front. The studio emphasizes the distinct gameplay style and mechanics, positioning the game more in the category of CS:GO rather than a direct emulation of other titles.
9. How does Matr1x incorporate lore into Matr1x Fire, and what is Matr1x Worldview Stories?
Matr1x has started publishing extensive lore for Matr1x Fire through Matr1x Worldview Stories. These narratives provide insights into the game's world and explain the events leading to the war in the year 2061.
10. In the context of Web3 funding decline, why did Folius Ventures invest in Matr1x?
Folius Ventures founder Jason Kam highlighted Matr1x's potential for exploring uncharted territory in the industry as a reason for investing. He sees Matr1x as striking an elegant balance that could achieve critical scale, appeal to the mass market, and become sustainably lucrative, avoiding the Web3 death spiral.
Game News Article Info 2024:
If you're a gaming enthusiast, key takeaways from this news article include Matr1x, the NFT gaming company based in Singapore, securing a substantial $10 million in funding for its mobile gaming project, Matr1x Fire. With this funding, Matr1x's total capital now stands at $20 million under the direction of Folius Ventures and SevenX Fund, underscoring its importance to the industry. Matr1x Fire, a first-person shooter game with CS:GO-style gameplay, distinguishes itself in a crowded market, drawing comparisons to Riot Games' Valorant. The studio aims to create an esports scene around the game, and despite parallels with other titles, Matr1x is confident in its unique approach.
Gamers should be aware of Matr1x's strategic use of funds to accelerate Matr1x Fire's development, including the release of NFT collections and a membership pass for governance access and revenue sharing. Addressing concerns about legal issues, Matr1x emphasizes the game's distinct mechanics, mitigating risks associated with similarities to other titles. Additionally, the article highlights investor perspectives, with Folius Ventures recognizing Matr1x's potential to navigate uncharted territory in the gaming industry, especially amidst the decline in Web3 funding.
In summary, gamers should keep in mind Matr1x's financial milestone, the unique gameplay features of Matr1x Fire, and the studio's strategic vision for the future. This news piece provides a comprehensive overview of the gaming landscape, offering insights into funding trends, investor sentiments, and the evolving dynamics of the NFT gaming space.
