Matr1x Game Nets $10Million in A-2 Funding Round Led by Folius Ventures

As the world awaits for a sea-change in the gaming industry, non fungible tokens (NFTs) and blockchain technology have been used to created immersive experiences for gamers. In a November 23 update, the renowned NFT gaming company Matr1x raised $10 million in a funding round. 

The fundraising was led by the New York-based hedge fund Folius Ventures in partnership with SevenX. Other companies that participated in the funding round included Find Satoshi Lab, ABCDE Capital, and Initiate Capital.

In the report, the Matr1x team stated that the $10 investment will be used to finance the ongoing mobile games projects.

Matr1x Studio Generates $10M for Developing Mobile Games

An announcement conveyed by the founder of Folius Ventures, Jason Kam, revealed that the Matr1x has massive potential in curbing the potential gaps in the gaming industry. After analyzing the recent performance of the crypto sector, Kam believes that Matr1x will create a healthy balance in the industry.


 The executive affirmed that the investment will support the gaming company in doubling down its operations to gain a significant market share. He anticipates that the Matr1x will create a lucrative gaming environment that pushes for the mainstream adoption of Web3.

The executive restated that the investment will be rerouted towards the development of Matr1x Fire, a mobile game still under development. This impressive game consists of a first-person shooter who will be required to overcome multiple obstacles to win an award. 

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Notably, most of the Matr1x Fire features correspond to Valorant, a free-to-play game owned by Riot studio. The notable similarities between Valorant and Matr1x Fire include the weapons, maps, and some of the gaming features. 

Features of Matr1x Fire 

The gaming company anticipates integrating esports features on Matr1x Fire. A recent report from the Matr1x Fire developers revealed that the gaming company has already debuted two NFT collections. 

The developers stated that the release of the third NFT collection was underway. This development aims at providing the players’ exclusive governance access and revenue sharing stream for the creators. 

After integrating the third digital collectible, the Matr1x team plans to introduce an upgradeable battle pet. A recent report from Matr1x Fire’s early adopters revealed that the mobile game has characteristics similar to Hyper Front and Valorant games.

 The players expressed their concerns that the notable similarities between Matr1x Fire and other games could breach the copyright laws that grant the creator complete control over their work. The Matr1x Fire faced a tide of criticism among the players due to similarities in some gaming features. 

Similarities between Matr1x Fire and Valorant

Upon contacting Matr1x to enquire whether Matr1x Fire duplicated some of the substantial gaming elements from Valorant, the developers confirmed that the two games were different.

 The developers explained that Valorant differs from Matr1x since it allows the heroes to play on a skill base. On the other hand, the Matr1x Fire restricts the heroes from showcasing their skills or supreme powers.

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 The developers suggested that the Matr1x Fire requires the players to use their guns well to destroy the enemies. The developers revisited the gaming features on Hyperfront, and Valorant noticed that the creators of the two games did some sort of copying and pasting.

Despite Matr1x Fire having features similar to other games, the developers admitted that the Matr1x mobile game falls under the Counter-Strike: Global Offensive (CS: GO) category.

 In the latter, the developers of Matr1x Fire plan to introduce exciting stories and myths for the new game. These stories will be shared through the Matr1x Worldview Stories to enlighten the players on the development of the gaming world.

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Kimberly Crain

Kimberly Crain is a seasoned crypto trader and writer, offering valuable insights into the digital asset market. With expertise in trading strategies and a passion for blockchain technology, her concise and informative articles empower readers to navigate the evolving world of cryptocurrencies.

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