UAE-Based Web3 Gaming Platform Exverse Raises $3M in Funding Round

Exverse, a Web3 gaming platform based in Dubai, has raised $3 million in a private funding round led by Cogitent Ventures, Cointelligence and Moonrock Capital. The funding round also saw participation from popular game developer Epic Games (known for their world-famous online shooter game Fortnite), Seedify, ChainGPT and KuCoin Labs.

Looking to tap into the mainstream gaming ecosystem, Exverse invests in creating a compelling gameplay experience instead of focusing on token mechanics or marketing like many of its blockchain-powered predecessors. Exverse's gaming model focuses on multiple fronts of game design, including competitive gaming, cooperative gaming and in-depth social interaction.

"We see ourselves as pioneers in the gaming industry because we’ve built an AAA-quality, classic first-person shooter with Web3 elements," Fei Ooi Hoong, CEO of Exverse, says.

Exverse's game - which will soon have its token launch, preceded by a tournament for early waitlist members - enables players to earn rewards by staking tokens before each gameplay season. Top performers will receive a share of profits from in-game NFTs such as cosmetics and skins.