Matr1x, an NFT gaming company based in Singapore, has raised another $10 million in funding for its mobile gaming projects, the firm announced Thursday.

Folius Ventures led the latest A-2 round, with fellow crypto VC firm SevenX named as a co-lead investor. ABCDE Capital, Jambo, Initiate Capital, and Find Satoshi Lab—makers of Stepn and the upcoming Gas Hero game—also invested, according to a statement.

Matr1x has now raised $20 million in VC funding overall, with Thursday’s round doubling the game studio’s $10 million raise completed in 2022.

“Matr1x has real potential in exploring the uncharted for this industry,” Folius Ventures founder Jason Kam said in a statement. Referring to the broader downturn in the crypto industry, he added, “It strikes an elegant balance that may—in the best case—help it achieve critical scale, appeal to the mass market, [and] become sustainably lucrative while side-stepping the Web3 death spiral altogether.”

Matr1x Fire, the studio’s flagship product, is a first-person shooter game for mobile devices where players select from a

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Author: Kate Irwin

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