According to Decrypt, Singapore-based NFT gaming company Matr1x has raised an additional $10 million in funding for its mobile gaming projects. Folius Ventures led the latest A-2 round, with SevenX named as a co-lead investor. Other investors include ABCDE Capital, Jambo, Initiate Capital, and Find Satoshi Lab. This brings Matr1x's total VC funding to $20 million, doubling its previous $10 million raise in 2022.
Matr1x's flagship product, Matr1x Fire, is a first-person shooter game for mobile devices with a similar aesthetic to Riot Games' Valorant. The game is still in development, and the company hopes to establish an esports scene around it. Matr1x has released two NFT collections and plans to release a third collection that will act as a membership pass for governance access and revenue sharing of its creator economy. The pass will also grant buyers an upgradeable battle pet.
In response to comparisons between Matr1x Fire and NetEase's Hyper Front, which was shut down due to a lawsuit from Riot Games, Matr1x clarified that their game is more similar to CS:GO and does not allow heroes to wield special powers or skills. The company has also begun publishing extensive lore for Matr1x Fire through its Matr1x Worldview Stories, detailing the game's world and the events leading up to a war in 2061.