June 06, 2024
XOCIETY, a AAA third-person shooter game, has successfully concluded a $7.5 million pre-Series A funding round. The investment was led by Hashed and the Sui Foundation, with additional contributions from prominent gaming entities such as Spartan, Neoclassic, Bigbrain Holdings, and KRAFTON.
Project | Latest Raise | Latest Raise Date | Stage | Total Raise | Lead Investor | Category |
|---|---|---|---|---|---|---|
XOCIETY | $7.5M | June 06, 2024 | pre-Series A | $7.5M | Hashed | Gaming |
The funding comes on the heels of XOCIETY’s successful beta testing phase, which attracted over 3000 users from 76 countries. During this testing period, players logged more than 11,000 hours of playtime, and an impressive 77% of players remained engaged for a week or longer. Team NDUs is at the helm of XOCIETY’s development, combining RPG mechanics with a novel reward system that emphasizes player engagement and skill. Notably, the game introduces an in-game corporation system, allowing players to own shares and manage their own virtual companies and economic entities within the game world
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XOCIETY’s development team includes industry veterans with a successful track record in creating engaging commercial gaming services. Notable members include Myoungjin Lee, known for their work on Ragnarok, and Sang Chung, the former Head of PlayDapp. Simon Kim, CEO & Managing Partner of Hashed, emphasized the team’s experience as essential for crafting a high-quality, captivating game that distinguishes itself in the Web3 landscape.
About XOCIETY
XOCIETY, an AAA game, blends PvP and PvE elements with RPG mechanics, aiming to revolutionize the Web 3.0 gaming landscape. Prioritizing player experience, XOCIETY empowers FPS players by granting them economic agency, effectively turning them into pivotal economic actors. Unlike conventional FPS games, where individual actions have minimal impact on the overall game world, XOCIETY’s decisions trigger dynamic ripple effects across gameplay and the environment.
Website: https://xociety.io/
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About Investor
Investor: Hashed
Hashed is a team of blockchain experts and builders based in Seoul, Singapore, Bengaluru, and Silicon Valley. We believe that decentralization has the power to transform not only the global economy but also the very fabric of the internet. Hashed is more than just an investor. They provide extensive support to their portfolio companies, creating an environment where founders can focus on growth. As committed partners, they contribute to the success of their founders and the expansion of the blockchain ecosystem. Hashed backs visionary founders and startups in the Web3 industry, spanning diverse sectors such as finance, gaming, and entertainment.
Location: South Korea
Website: https://www.hashed.com/
A central focus of investor activity in the cryptocurrency space is the evaluation of new crypto projects to invest in, particularly those with huge potential. This blog provides insight into what new ventures are benefiting from venture capital support (VC funding in crypto). These new crypto projects, funded by professional investors, can dictate the next narrative in crypto and the next big crypto movers.
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