M10 raises $3M for Web3 competitive multiplayer games
1 min read
Summary
M10, a web3 gaming start-up, has secured $3m in seed-round financing to develop its inaugural, yet-to-be-announced title.
The team has extensive experience in the gaming industry, having worked on titles such as Assassin’s Creed and Ghost Recon, and the capital will be used to develop a new model beyond traditional free-to-play gaming.
CEO Maitham Mohamed, who founded the company with former colleagues at Ubisoft and Trion Worlds, aims to create a new model of the popular free-to-play (F2P) gaming model, which he hopes will scale the category further.
The new model aims to solve some of the problems with existing F2P models, which are often criticised for their aggressive monetisation through in-game purchases.
M10 aims to package this new model in a fresh take on competitive multiplayer shooter games.
The company has partnered with the Sui Foundation, a blockchain platform designed to make digital asset ownership secure and accessible to all, to help achieve its goals.