- Matr1x secures $10M for innovative NFT gaming, led by Folius Ventures and SevenX, signaling a significant industry shift.
- Focus on skill-based gameplay in Matr1x Fire aims to redefine mobile gaming, balancing creativity with legal challenges.
- Despite being compared to existing titles, Matr1x’s strategic NFT collections and esports ambitions are heralding a new era in gaming.
Matr1x, a Singapore-based NFT gaming company, has secured an impressive $10 million in its latest funding round. Consequently, this inflow of capital marks a significant milestone for the company. Folius Ventures spearheaded this A-2 round. Moreover, SevenX, a crypto VC firm, contributed as a co-lead investor. Additionally, the investment was joined by notable names like ABCDE Capital, Jambo, and Initiate Capital. Find Satoshi Lab, known for Stepn and Gas Hero, also participated.
🚀BANG BANG BANG! We’ve hit a monumental $10M in our A-2 funding round, skyrocketing our total to $20M. A rousing welcome to our new allies – @FoliusVentures, @SevenXVentures , @ABCDELabs , @fslweb3 (makers of @stepnofficial & @gasheroofficial) , @initiatecapital, and… pic.twitter.com/xL6rdJRuQG
— MATR1X FIRE｜🐾 KUKU NFT Pre-Launch (@Matr1xOfficial) November 23, 2023
Jason Kam, the founder of Folius Ventures, expressed confidence in Matr1x. He highlighted the company’s potential to redefine the gaming industry. Hence, Kam believes Matr1x could navigate the crypto slowdown and achieve mass market appeal. Significantly, Matr1x is focusing on a first-person shooter game, Matr1x Fire. This game draws aesthetic inspiration from Riot Games’ Valorant. It features similar maps, weapons, and character designs.
Matr1x Fire emphasizes team play, where five-person teams compete. However, unlike Valorant, it eschews special powers for a skill-based approach. This approach aligns more with CS:GO’s gameplay style. Additionally, Matr1x aims to establish an esports presence for its game, which remains under development.
The studio has introduced two NFT collections and is currently in the process of developing a third collection. This upcoming collection will provide opportunities for governance participation and a stake in the creator economy, along with featuring an upgradeable Battle Pass.
However, there are concerns within the gaming community. Some gamers draw parallels between Matr1x Fire and NetEase’s Hyper Front. Riot Games previously sued NetEase over Hyper Front, alleging it copied Valorant. As a result, Hyper Front was shut down. Many fear a similar fate for Matr1x Fire. The game has already garnered labels like “Valorant Mobile” in early-access footage.
Despite these concerns, Matr1x is forging ahead. The company is transparent in its distinction from Valorant. It emphasizes a different gaming experience, focusing on gunplay and tactics. This distinction is crucial for Matr1x Fire to avoid legal entanglements and carve its niche. The funding and development trajectory of Matr1x signals a potentially transformative period in mobile gaming. Hence, the industry is watching closely, anticipating the impact of Matr1x’s ambitious projects.