• UAE-based Web3 gaming platform Exverse, has raised a private funding round of $3 million, led by Cogitent Ventures, Cointelligence, and Moonrock Capital. The funding round also saw participation from KuCoin Labs, Epic Games, Seedify, and ChainGPT.
• 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.
• The new cash influx will accelerate the launch of Exverse's upcoming products, as well as establish strategic partnerships and expand its marketing initiatives across the Asia-Pacific (APAC) region.

Source: Blockster

Exverse, a pioneering gaming startup headquartered in Dubai, has successfully secured $3 million in a private funding round to propel its ambitious project aimed at revolutionizing Web3 gaming.

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. This substantial investment will fuel Exverse's efforts 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.

Amidst the backdrop of criticisms surrounding the sustainability of early Web3 gaming models, Exverse is committed to addressing these concerns by prioritizing gameplay quality over tokenomics. Unlike many of its predecessors, which focused primarily on token mechanics and flashy marketing without delivering a compelling gaming experience, Exverse is determined to resonate with both mainstream gamers and crypto enthusiasts alike.

The heart of Exverse's gaming experience lies in its ambitious three-planet ecosystem, designed to offer players an immersive and advanced gameplay experience. The three planets—Social, Quest, and Battle—cater to diverse playing styles while remaining interconnected within a unified timeline. Players engage in competitive cycles known as seasons, lasting eight weeks, where they vie for dominance and reap rewards through skill-based gameplay rather than pay-to-win mechanics.

Battle Planet: Prepare for adrenaline-pumping action as players engage in large-scale battle royales and intense team deathmatches, pushing their skills to the limit.

Quest Planet: Join forces with friends to conquer seasonal events, embark on clan raids, and undertake special partnership missions, challenging your teamwork and strategy.

Social Planet: The heart of Exverse, where players come together for community events and immersive player engagements, fostering a vibrant and interactive gaming community.

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.

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.'

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.