Xternity Raises $4.5M for GameFi Infrastructure; Launches Open Beta

Web3 gaming startup Xternity has just raised $4.5 million in a pre-seed funding round. The company is building infrastructure that Web2 game developers can use to integrate blockchain functions into their games.

Alongside the raise, Xternity has just launched several of its products in open beta. Among other Web3 tools, game developers can access a multi-blockchain API and embedded crypto wallets.

Taking Web3 to the gamers

Many native Web3 games lack a killer ingredient — fun. All too often, GameFi titles make the entire gameplay about the monetization elements and forget about just about everything else. In terms of daily active users, crypto games fall way short of their mainstream counterparts.

Xternity is a startup that thinks crypto gaming would be better by bringing tokenization to good games made by experienced teams. Their solution is a no-code platform that enables traditional game developers to add NFTs, crypto wallets and other blockchain-related integrations to their games.

A recent press release revealed that the startup has just received $4.5 million in pre-seed funding and released its open beta. Among the investors were notable names from the Web3 and gaming niches, including Jibe Ventures, Flori Ventures, Secret Chords, Vgames, and NFX.

Commenting on the company's aims, Sagi Maman, Xternity's CEO, said:

"Xternity continuously strives to define and build a long-term solution with valuable utility for the user. We believe that mass adoption of Web3 is possible only with simple, safe, and scalable technology built upon a sustainable engagement economy."

Meanwhile, Gigi Levy Weiss, a General Partner at Xternity investor NFX, commented on the firm's vision:

"By understanding game developers' need for scalable infrastructures and sustainable economic models, [Xternity's founders] were able to create a seamless solution that safely onboards web2 games to web3, and the current framework is just the first milestone."

Supercharging AAA games with Web3

Web3 enables digital asset ownership that previously wasn't possible. There's plenty of evidence that gamers understand that strictly digital items can hold value — expensive World of Warcraft items are just one example.

Given the trend toward customization of avatars seen in titles like Fortnite, it can't be long before mainstream gamers start demanding more interoperable in-game items. Xternity provides a meta-layer that developers can use with any game, adding a range of blockchain-enabled features. Examples released as part of the project's open beta are a multi-chain API; a customizable and embedded wallet; an NFT platform; and a Web3 CRM tool.

Shahar Asher, the company's CTO, commented on Xternity's technology and the possibilities it enables:

"Xternity platform enables game developers to work with many blockchains simultaneously at scale while having a unified code experience, they also can add NFT assets, and game economy layers while focusing on their core mission."