Matr1x, a gaming platform combining gaming, AI, Esports and blockchain infrastructure behind leading Web3 mobile shooting game Matr1x Fire, has announced its securement of additional funding from global games and interactive entertainment venture capital Makers Fund. This injection further amplifies the rise of the Web3 Esports sector, with Matr1x at the forefront of innovation in the space. The Matr1x team holds over a decade of experience at renowned global gaming companies, working to develop competitive mobile games, with over 400 million cumulative users and cumulative revenue of over $5 billion.
The investment from Makers Fund is the first from a US-based backer for the Singaporean project, aligning with the business’s plans to capture audiences in the Western market. Makers Fund is a global venture capital fund dedicated to games and interactive entertainment. The Matr1x platform is behind leading Web3 mobile shooting game Matr1x Fire, receiving 2.5 million downloads and nearing 100,000 Daily Active Users, prior to its official launch. The success seen from this flagship project highlights the potential and growing appetite for Web3 Esports gaming.
“The team’s unique mix of being long-term mobile game developers and early adopters of crypto technology comes across in the way they think about the project long-term – we see them as one of the rare teams that are able to ship an impressive game and create a global competitive community. We’re excited to be working with the team as they launch Matr1x Fire and release their new mobile games in the future alongside many exciting ecosystem partners,” said Lia Zhang, Principal at Makers Fund.
Matr1x has evolved rapidly since its inception in 2022; with a robust suite of in-house blockchain infrastructure and an innovative Game Distribution as a Service (GDaas) model, Matr1x seeks to propel high-quality games, coupled with Esports tournaments, to achieve critical-scale and appeal to a diverse audience, revolutionising the global gaming and digital content industry via blockchain and AI technology. To date, Matr1x platform has released several game pipelines from both inhouse and third parties: Matr1x Fire, Matr1x Battle, the battle royale version of Matr1x Fire, and Castile, the Cthulhu style ARPG card game. This is coupled with the recent additions of Evermoon, a 5vs5 MOBA game, and Geda, experienced Esports tournament operator and close partner of Matr1x, to its ecosystem, underscoring its commitment to producing and distributing high quality games which look to bring mass adoption to the Web3 industry. The strategic investment by Makers Fund looks to propel Matr1x further, driving such innovation.
Recent successes by the team have been underscored by Matr1x Fire Asia Masters 2024, with the grand final on the main stage of Hong Kong Web3 Festival in April of this year attracting close to 1.9 million live views on Twitter. This contributed to record breaking viewership figures for all Matr1x Esports tournaments, bringing total views to 6.2 million people. Furthermore, the team’s innovation in addressing issues in the current Web3 gaming landscape is demonstrated by their efforts to replicate the business model of CSGO. This approach aims to provide solutions to ongoing challenges such as the death spiral issue and represents a potential shift in the sector’s development.
“At Matr1x, we are firmly of the belief that Web3 gaming is not a fad, but the future of the sector; furthermore, Web3 gaming is the necessary path for mass adoption of the Web3 industry and only an integrated ecosystem, such as ours, can aid in achieving such. Our success to this point has illustrated the potential of this space, and the value of integrating decentralised principles for the purpose of enjoyment, engagement and empowerment. Web3 is fundamentally reshaping the gaming industry, and we are looking forward to continuing to push the boundaries of such – the support of innovative investors, such as Makers Fund, endorses this mission,” said co-founder of Matr1x, Madeira, on today’s announcement.
This news follows Matr1x’s previous fundraising success of November 2023, in which the company saw $10 million in its A-2 financing round, led by Folius Ventures and co-led by SevenX Ventures, with participation from ABCDE Capital, OKG Ventures, Find Satoshi Lab, Initiate Capital, and Jambo. Previous backers include Hana Financial Group, one of the top financial players in South Korea, Hashkey Capital, SevenX Ventures, Amber Group and Initiate Capital.