Published on: 08/11/2022
Xternity launches open Beta after raising $4.5 million
The Web3 gaming platform Xternity recently launched its open Beta after announcing that it had secured $4.5 million in a funding round led by NFX. Several reputable crypto venture capital firms, including Jibe Ventures, Flori Ventures, Secret Chords and Vgames, also participated in the funding.
The Tel Aviv-based firm focuses on developing “no-code” solutions to help game developers increase user engagement, especially from Generation Z gamers. This initiative aims to cut operating costs when the blockchain industry confronts issues caused by the continuous market downturn.
Xternity was founded by experienced professionals in gaming, technology and e-commerce. Sagi Maman serves as its CEO, and Shahar Asher the CTO. By providing gamers with digital ownership, the startup hopes to assist game developers in building the future of the gaming industry.
Xternity is one of 35 blockchain networks that work with Fireblocks. It aims to create an all-encompassing ecosystem on Web3 to promote player empowerment. Xternity also hopes to provide developers and brands with next-generation engagement solutions that leverage Web3 and the metaverse to benefit their communities and players without complex infrastructure.
Its Beta launch provides games with a multi-chain API, customizable embedded wallet, NFT platform at scale and Web3 CRM tools. A few leading blockchain networks, including Polygon, ImmutableX, Solana and Celo, are already connected to these functions.
“Xternity continuously strives to define and build a long-term solution with valuable utility for the user,” Maman said. “We believe that mass adoption of Web3 is possible only with simple, safe, and scalable technology built upon a sustainable engagement economy.”
Xternity allows game developers to interact with multiple blockchains simultaneously while ensuring a consistent coding experience. Furthermore, game developers can integrate NFT assets and game economy levels while preserving their primary goal.
Xternity currently has ten people on its team and plans to hire five more across functions such as product and engineering.
Xternity’s current products combine numerous facets of monetization and user-generated content, as well as blockchain analytics and a Web3 software development kit, to help improve the value of Web3.
“Xternity’s founders are utilizing their unique perspectives of both game monetization and scalable platforms to build the ultimate Web3 ecosystem for games,” NFX founder and CEO Gigi Levy Weiss said.
“By understanding game developers’ need for scalable infrastructures and sustainable economic models, they were able to create a seamless solution that safely onboards Web2 games to Web3, and the current framework is just the first milestone”.
Xternity’s Web3 Dashboard allows users to manage their wallets and facilitates quick onboarding based on on-chain KPIs. This dashboard contains real-time hybrid analytics as well as a CRM tool. Using the dashboard, developers can easily create their own NFT stores and accept credit card payments with a few mouse clicks.
Xternity announced on Twitter in June that it had joined the Blockchain Game Alliance (BGA), an organization that promotes blockchain in the gaming industry. BGA aims to raise awareness about blockchain technologies and promote their adoption by sharing their potential to inspire new methods for creating, publishing, playing and building strong communities around games.