Xternity secures $4.5 million to boost Web3 adoption by WEB2 games

• The Xternity network enables game developers to tap into the leading blockchains with more active addresses.
• The Beta version has been integrated with leading blockchain networks, including Polygon, ImmutableX, Solana, and Celo.

Eternity, an end-to-end Web3 solution, has secured an investment of approximately $4.5 million to further its development plans. According to a press statement shared with CNF, the secured capital saw participation from several investors, including Jibe Ventures, Flori Ventures, Secret Chords, Vgames, and NFX. Additionally, the company has informed the global community that it unveiled its open Beta version.

As a result, e-sport developers can tap into the Xternity ecosystem to scale their GameFi products. By having solid financial backing, the Xternity fraternity intends to help scale the global mass adoption of Web3.

Sagi, the CEO and Ex-Playtika, says:

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.

Moreover, the Xternity network enables game developers to tap into the leading blockchains with more active addresses. Most importantly, the Xternity platform supports the NFT market, which has received high recognition in the cryptocurrency and blockchain stages.

Furthermore, the play-to-earn (P2E) and DeFi have been leading in investments capital inflows for the past two years, according to onchain data.

Xternity and Web3 industry

The Xternity team believes WEB3 is here to stay, and gen-Z is ready to pick up the frontier stage. Furthermore, gaming developers are focused on monetising Web2 games, which were previously not focused on player incentives.

For instance, a traditional mobile gaming project only rewarded players with tokens to unlock in-house features. However, the Web3 gaming industry has managed to tap into blockchain technology to monetise the ecosystem. As a result, more downloads and active players get to form a strong online community such as that experienced with Axie infinity and AXS.

However, system security lapse, mostly at multi-chain capabilities, has been identified as a key stumbling block. As a result, Xternity has advertised for a backend team leader to lead and guide other members to develop and maintain a superb web3 platform.

Notably, the company was co-founded by Sagi Maman (CEO) and Shahar Asher (CTO), who have deep and extensive knowledge of gaming and blockchain technology.

“Xternity’s founders are utilising their unique perspectives of both game monetisation and scalable platforms to build the ultimate web3 ecosystem for games”, said Gigi Levy Weiss, General Partner at NFX.

Worth noting that the company announced its open BETA to provide the gaming industry with Multi Chain API, Embedded and customised wallet, NFT platform at scale, and Web3 CRM tool. Reportedly, the Beta version has been integrated with leading blockchain networks, including Polygon, ImmutableX, Solana, and Celo.