Matr1x Secures $10 Million Funding for Mobile Gaming Expansion

Singapore-based NFT gaming company Matr1x announced a successful funding round, securing $10 million for its mobile gaming ventures. Folius Ventures led the A-2 round, with co-lead investor SevenX. Notable participation came from ABCDE Capital, Jambo, Initiate Capital, and Find Satoshi Lab, the creators of Stepn and the upcoming Gas Hero game.

Total Funding Reaches $20 Million

Matr1x has now raised a cumulative $20 million in venture capital funding, doubling its previous 2022 raise of $10 million. The company aims to explore new horizons within the gaming industry, drawing attention amid the broader challenges faced by the crypto sector.

Investors See Potential in Matr1x

Founder of Folius Ventures, Jason Kam, expressed confidence in Matr1x's potential to navigate industry challenges. Kam noted the company's ability to strike a balance that could lead to critical scale, mass market appeal, and sustained profitability, potentially avoiding the pitfalls of the Web3 downturn.

Matr1x Fire: A Flagship First-Person Shooter

Matr1x's flagship product, Matr1x Fire, is a first-person shooter game designed for mobile devices. Players choose characters from a roster and engage in five-person team battles. The game's aesthetic bears resemblance to Riot Games' popular shooter, Valorant, incorporating similar map designs, weapons, and character styles.

Esports Aspirations and NFT Collections

Matr1x envisions the development of an esports scene for Matr1x Fire, currently in the development phase. Alongside the game, the studio has released two NFT collections and plans to launch a third collection serving as a membership pass for governance access and revenue sharing within its creator economy. Buyers will also receive an upgradeable battle pet.

Clarification on Game Comparisons

Addressing comparisons with NetEase's Hyper Front and Valorant, Matr1x emphasized the distinction in gameplay. Matr1x Fire follows a Counter-Strike: Global Offensive (CS:GO) style, devoid of hero skills or powers. The company clarified that Matr1x Fire's gameplay revolves around gun handling, shooting control, and recoils, unlike the skill-based mechanics in Valorant.

Matr1x Expands Narrative with Worldview Stories

Matr1x has embarked on expanding the lore of Matr1x Fire through its Matr1x Worldview Stories. These narratives provide an online platform to delve into the game's world, offering insights into a fictional war that erupted in the year 2061.

Matr1x's funding achievements showcase investor confidence in the company's potential. However, industry scrutiny and comparisons with established titles warrant cautious optimism, emphasizing the need for Matr1x to navigate potential challenges and carve out a distinctive niche in the competitive gaming market.