Overworld Secures $10M Seed Investment for Cross-Platform ARPG Development

In a move that underscores the dynamic shifts within the gaming industry, Overworld, a game development studio known for its expertise in creating immersive, cross-platform multiplayer RPGs, has successfully raised $10M in a seed funding round. Leading the investment charge were Hashed, The Spartan Group, Sanctor Capital, and Galaxy Interactive, with significant contributions from Hashkey, Big Brain Holdings, and Foresight Ventures. This financial infusion aims to boost the progression of Overworld’s multiplayer role-playing game, currently under the working title “Overworld.” This game distinguishes itself by integrating digital collectibles into its gameplay, enriching the player’s experience in a vast fantasy universe.

The studio behind the game, sharing its name with the project, has been working diligently for nearly a year, supported initially by the Xterio ecosystem. Xterio not only provided the seed funding but also contributed technology and continues to play a crucial role in the game’s development. This partnership aims to explore how digital ownership can enhance game growth and attract a wider audience.

“Overworld,” the game, is being crafted using Unreal Engine 5 to deliver a third-person 3D action role-playing experience. It aims to unite players in a richly designed universe that marries high fantasy with anime-inspired characters and a storyline that balances monumental adventures with relatable, everyday narratives. The development team is currently focusing on creating an alpha version that will run on the latest generation consoles, PCs, and mobile platforms.

Jeremy Horn, Xterio’s COO and a veteran in the gaming industry, leads the development of Overworld. With a background that includes being Vice President of Strategy at Jam City, Horn brings a wealth of knowledge in creating and managing top-grossing social games. “At Overworld, we are focused on building an incredible, dynamic game world driven by the player community,” Horn stated, expressing his enthusiasm for the project. The team behind him consists of skilled professionals with backgrounds at Epic, EA, Sony, Bioware, Jam City, and Ubisoft, all united in their goal to bring Overworld to life.

Xterio will publish Overworld, leveraging its gaming platform technology, which has received backing from some of the mobile gaming industry’s leading figures, including FunPlus. This collaboration aims to blend free-to-play and cross-platform gaming elements with digital collectibles to enhance the gaming experience.

One of Overworld’s early successes is its NFT collection, “Overworld Incarna,” which stands out as one of 2023’s most successful collections in terms of revenue, trading volume, and market value. This success underscores the collection’s popularity and its potential to lead the market in game-themed digital collectibles.

Ryan Kim, Founding Partner at Hashed, highlighted the game’s potential to transform the online multiplayer RPG landscape, especially within the crypto space. “Overworld, the flagship social RPG from the established Xterio platform, is poised to redefine online multiplayer RPGs in the crypto space by targeting the masses. With a strong leader who understands the dynamics of web3 and backed by an experienced team with a strong track record, Overworld is poised for success in the web3 gaming space,” Kim remarked, emphasizing the game’s innovative approach and the timing of its market entry.