XOCIETY Receives $7.5 Million in Funding to Develop New AAA Game

[PRESS RELEASE – Seoul, Korea, June 6th, 2024]

XOCIETY, a AAA third-person shooter game, has successfully closed a $7.5 million pre-Series A funding round. The round was led by Hashed and the Sui Foundation, with additional investment from other prominent gaming entities such as Spartan, Neoclassic, Bigbrain Holdings, and KRAFTON.

The funding builds off the success of XOCIETY’s beta testing, which accrued over 3000 users from 76 countries, reaching over 11,000 hours of playtime and retaining over 77% of players for a week or more. Team NDUs is developing XOCIETY, integrating RPG mechanics with a new reward system emphasizing player engagement and skill. The game introduces an in-game corporation system, allowing players to own shares and manage their own companies and economic entities within the game world.

“We are focusing on creating a sustainable player engagement model, moving away from the short-lived earning models seen in some Web3 games,” said Jeffry Kim, founder of NDUS. “This investment will help us blend the best aspects of traditional gaming with the possibilities of Web3.”

The game is being developed by industry veterans with a proven record in building engaging commercial-level gaming services such as Myoungjin Lee, known for his work on Ragnarok, and Sang Chung, former Head of PlayDapp. “Our team’s experience is crucial in developing a high-quality, engaging game that stands out in the Web3 space,” commented Simon Kim, CEO & Managing Partner of Hashed.

“XOCIETY is a natural partner for Sui,” said Greg Siourounis, Managing Director of Sui Foundation. “Thanks to Sui’s high throughput, instant settlement speeds, dynamic on-chain assets, players will be able to experience the best of what gaming powered by web3 has to offer.”

About XOCIETY

XOCIETY is a AAA game featuring PvP and PvE elements combined with RPG mechanics, aiming to innovate within the Web 3.0 gaming era. With an emphasis on player experience, XOCIETY aims to redefine gaming experiences offering FPS players economic control, transforming them into key economic agents. Unlike traditional FPS games, where a single user’s activity has little impact on the broader game environment, decisions in Xociety create dynamic ripple effects throughout the gameplay and environment.

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The post XOCIETY Receives $7.5 Million in Funding to Develop New AAA Game appeared first on CryptoPotato.

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