XOCIETY receives $7.5 million in funding to develop a new AAA game

Seoul, Korea, June 6, 2024, Chainwire

XOCIETY, a AAA third-person shooter game, has successfully closed a $7.5 million pre-Series A funding round. The round was led by Hashed and his foundation, with additional investment from other prominent gaming entities such as Spartan, Neoclassic, Bigbrain Holdings and KRAFTON.

The funding builds on the success of XOCIETY's beta testing, which has accumulated over 3000 users from 76 countries, reached over 11,000 hours of playtime and kept over 77% of players engaged for a week or more. Team NDUs is developing XOCIETY by combining RPG mechanics with a new reward system that emphasizes player engagement and skill. The game introduces an in-game corporation system that allows players to own shares and manage their own companies and economic entities within the game world.

“We're moving away from the short-term revenue models seen in some Web3 games and focusing on creating a sustainable player engagement model,” said Jeffrey Kim, founder of NDUS. “This investment will help us combine the best aspects of traditional gaming with the possibilities of Web3.”

The game is being developed by industry veterans with a proven track record of building commercial-grade game services, such as Myungjin Lee, known for his work on Ragarock, and Sang Chung, former head of PlayDeep. “Our team's experience is critical in developing quality and engaging gaming that stands out in the Web3 space,” commented Simon Kim, CEO and Managing Partner of Hashid.

“XOCIETY is its natural partner,” said Greg Siouronis, managing director of the Sui Foundation. “Thanks to Sui's high output rate, fast settlement speeds, dynamic on-chain assets, players can experience the best that Web 3-powered gaming has to offer.”

About XOCIETY

XOCIETY is a AAA game featuring PvP and PvE elements with RPG mechanics that aims to innovate in the Web 3.0 gaming era. With an emphasis on player experience, XOCIETY aims to redefine gaming experiences by turning FPS players' economic control into key economic agents. Unlike traditional FPS games where a single user's actions have little effect on the wider game environment, decisions made in Xociety have dynamic effects throughout the gameplay and environment.

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