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Re:

Xterio Raises $40M for High-End Mobile Web3 Games (August 2022)

Xterio announced a $40 million raise in August 2022 to fund cross-platform, player-owned games. This guide separates the 2022 facts, the reported valuation, and Xterio's current self-reported claims.
From TheFinanceBase Team5 min to read
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Xterio announced a $40 million raise in a company post dated August 29, 2022. That is a 2022 financing story, not a new round in 2026. The round was pitched as funding for cross-platform, player-owned multiplayer games, with mobile and browser releases forecast for the following quarters. Those forecasts, the reported $300 million valuation, and Xterio’s current description of itself are three separate things, and each carries a different level of evidence.

What was announced in August 2022

Xterio’s own announcement described the company as “a game developer and publisher with a global team footprint” and set its goal as cross-platform multiplayer games across genres, enhanced by player ownership. The Block followed on August 30, 2022, adding the deal structure and valuation. The table below separates each figure from its source and its current standing.

Figure Value Who reported it Date Standing
Round size $40 million Xterio company announcement August 29, 2022 Company announcement of the raise
Funding instrument Simple agreement for future tokens (SAFT) The Block August 30, 2022 Reported; not restated in Xterio’s current pages
Valuation $300 million The Block, attributed to co-founder Jeremy Horn August 30, 2022 Reported figure, not independently audited
First-party games Five Xterio whitepaper summary Current page, reviewed in 2026 Company-reported
Partners More than 70 Xterio whitepaper summary Current page, reviewed in 2026 Company-reported
Users Over 10 million Xterio whitepaper summary Current page, reviewed in 2026 Company-reported; no independent validation

Who backed the round

Accounts of the investor list differ by source, so attribute each version to its publisher rather than treating one as definitive.

  • Xterio’s announcement named FunPlus, Makers Fund, and XPLA as lead investors, with participation from HashKey, Foresight Ventures, Infinity Ventures Crypto, Matrix Partners, and Animoca Brands.
  • The Block’s report named FunPlus, Makers Fund, FTX Ventures, and XPLA as co-leads, and listed Animoca Brands, HashKey, Foresight Ventures, Infinity Ventures Crypto, and Matrix Partners among the other investors.
  • XPLA’s partner release also names FTX Ventures in connection with the round.

The FTX group entered bankruptcy in November 2022, a few months after this announcement. The company pages reviewed here do not address FTX Ventures’ current role, so do not assume its status from the 2022 coverage.

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The SAFT structure and the $300 million valuation

A simple agreement for future tokens is a contract in which an investor pays now for the right to receive tokens once a project issues them. It is not a share of company equity. The Block attributed both the SAFT structure and the $300 million valuation to co-founder Jeremy Horn, who described a utility token meant to reward users and partners.

Treat both figures as the company’s historical account of its plan. They were not audited, and nothing in the material reviewed establishes whether that token exists today, how it trades, or what it does now.

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What Xterio planned in 2022 and what it says now

The 2022 release forecast

The Block reported that Xterio expected to release multiple games for mobile and browser interfaces in “the upcoming quarters.” That was a forecast made in 2022. It is not a schedule for titles that are still upcoming, and it is not evidence that any game was available at a given time.

Current positioning

Xterio’s current whitepaper summary calls the company an AI-powered Web3 game layer 2 ecosystem. It says Xterio develops, finances, acquires, publishes, and distributes games with partners, and it describes the following systems:

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  • Account-abstracted wallet integration and a decentralized identity system.
  • An NFT marketplace and mint launchpad, with on-chain operations.
  • Developer-facing APIs and smart contracts.
  • AI asset-generation tools and an AI “emotion engine” built with REKA, which the company says it is advancing.

These are the company’s descriptions of its own work. The material reviewed does not show that these systems have delivered the outcomes Xterio attributes to them.

The current game gallery

Xterio’s official gallery lists many titles, including partner titles, with genre labels. It is a catalogue, not a release ledger. A listing does not mean a game has launched or is playable. The examples below compare only the axes the gallery actually shows.

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Title Genre label in gallery Mobile label Release status
Age of Dino MMO, 4X strategy, simulation Not stated in the gallery entry reviewed Not established by the gallery
Palio AI-native simulation, casual Not stated in the gallery entry reviewed Not established by the gallery
City Shadows FPS, PvPvE extraction Not stated in the gallery entry reviewed Not established by the gallery
Cyber Crash Card, cyberpunk Tagged mobile Not established by the gallery

The XPLA and FunPlus relationship

XPLA’s partner release described Xterio as FunPlus’s exclusive Web3 partner, said Xterio would assist in developing the XPLA mainnet, and identified Xterio as a partner in XPLA’s gaming initiative. That relationship explains why FunPlus and XPLA appear in the funding story. The release is a partnership announcement, and it does not show how the investment has performed.

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Later token announcements

Xterio’s later announcements discussed a planned token-generation event on January 8, 2025, along with XTER ecosystem messaging. These posts document what the company said at the time. They do not establish a token price, present trading status, or current utility, and they should not be read as an investment case.

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What the quotations show

Chris Petrovic, FunPlus chief business officer and a council member of the Xterio Foundation, told The Block: “They understand that ultimately the entertainment value of experiences must come first to truly deliver the promise of web3 in the long run.” That is his view of the company’s approach, given as an executive from one of the lead investors. It is not an independent assessment of Xterio’s games.

No independently published market-size figure or mobile Web3 gaming statistic was established for this article. The audience and partner counts above are company claims, not industry data.

Checks before relying on any Xterio claim

  • For a specific title, confirm release status on the game’s own store listing, launch announcement, or the platform where it would be played, not the gallery alone.
  • For any token question, check the current official channels and a live market source, and confirm whether the token described in 2022 still exists under the same name and terms.
  • For the investor list, use the company’s own announcement and the named investors’ statements rather than a single secondary report.
  • For scale figures, look for an independent source before treating the user or partner counts as verified.

The Bottom Line

The August 2022 raise is a closed historical financing: a $40 million round with a reported $300 million valuation and a SAFT structure, all as described in 2022 coverage. Xterio’s present picture is a self-described AI and Web3 games platform with company-reported scale. Release status for individual titles and the status of any token remain unestablished by the material reviewed.

Product prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on Amazon at the time of purchase will apply.

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