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Singapore-Based Company, Matr1x, Secures $10 Million for NFT Gaming Projects

Matr1x, a Singapore-based NFT gaming company, has announced a significant funding boost of $10 million for its mobile gaming initiatives. This recent financial injection, disclosed on Thursday, marks a substantial step forward for the firm’s gaming ventures.

The funding, part of Matr1x’s A-2 round, was spearheaded by Folius Ventures with collaborative support from SevenX, a fellow crypto venture capital firm. Other contributors include ABCDE Capital, Jambo, Initiate Capital, and Find Satoshi Lab, the creators behind Stepn and the forthcoming Gas Hero game.

Image Source: matr1x official website

This latest funding round brings Matr1x’s total venture capital raised to $20 million. Thursday’s announcement is particularly noteworthy as it effectively doubles the $10 million previously secured by the game studio back in 2022.

Matr1x Fire, the studio’s flagship offering, stands as a first-person shooter game tailored for mobile devices. The gameplay involves players selecting from a variety of characters and engaging in team-based combat to eliminate opponents. The game’s visual elements, including maps, weapons, and character designs, draw parallels to Riot Games’ acclaimed shooter, Valorant.

In addition to developing Matr1x Fire, the studio is actively fostering an esports community around the game, currently in the developmental phase. Matr1x has also ventured into the realm of NFT collections, planning a third release designed as a membership pass offering governance access and revenue sharing within its creator economy.

However, comparisons drawn between Matr1x Fire and NetEase’s Hyper Front have raised concerns among gamers. In a similar scenario, Riot sued NetEase for allegedly replicating Valorant, leading to the shutdown of Hyper Front. To address this, Matr1x clarified the distinctiveness of Matr1x Fire from Valorant, citing differences in gameplay mechanics.

Matr1x is actively engaging its audience by sharing extensive lore surrounding Matr1x Fire through its online platform, Matr1x Worldview Stories. These narratives intricately detail the game’s universe and the events leading to a fictional war in 2061.

As Matr1x secures further funding and continues its gaming developments, the company aims to establish its distinct identity within the competitive gaming landscape.

* Original content written by Coinlive. Coinbold is licensed to distribute this content by Coinlive.