Hashed Leads $10M Seed Investment in Cross-Platform RPG Studio ‘Overworld’
South Korea’s blockchain-focused investment firm, Hashed, has participated in the seed investment round for Overworld, a cross-platform multiplayer RPG game development studio.
The investment, totaling $10 million (approximately KRW 13.3 billion), was led by Hashed, with participation from several venture capitals, including The Spartan Group, Sanctor Capital, Hashkey, Big Brain Holdings, and Foresight Ventures.
Overworld, which was incubated by the Web3.0 game publisher Xterio, received initial funding and technical support from Xterio. Xterio is a Web3.0 game platform that boasts veterans from global game developers such as FunPlus, Ubisoft, Krafton, Jam City, and NetEase as its members.
The project “Overworld,” being developed by Overworld, is a cross-platform RPG game featuring an epic universe and storylines that resonate with everyday experiences. The game is developed using Unreal Engine 5 and prides itself on high-quality visuals inspired by animated characters and designs, enriched with a wealth of fantasy elements.
Currently, the Overworld development team is focused on developing an alpha version for console devices, PCs, and mobile devices. The investment funds raised will be used to complete a project aimed at maximizing the online gaming user experience, with plans to utilize digital collectibles such as NFTs (Non-Fungible Tokens).
The game’s development is overseen by Jeremy Horn, COO of Xterio. Jeremy Horn is a veteran in the gaming, technology, and entertainment sectors, having previously served as the Vice President of Strategy at Netmarble’s North American subsidiary, Jam City. He possesses specialized expertise in developing social games that can increase revenue based on existing Intellectual Properties (IPs).
Jeremy Horn, COO of Xterio, stated, “We are focused on building a more surprising and dynamic game world through a leading player community in Overworld. The player community has already shown great enthusiasm for Overworld’s first digital collection, and we will continue to expand this vast world to meet these expectations.”
Sung-ho Kim, Partner at Hashed, commented, “The flagship social RPG, Overworld, launched by the existing MMO platform Xterio, is expected to redefine what a Web3.0 online multiplayer RPG is to the public. Overworld, with a team that understands Web3.0 and has numerous achievements under strong leadership, is set to make a significant impact in the Web3.0 gaming sector.”
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