Xterio-Backed Overworld Closes $10M Seed Round for Cross-Platform Online ARPG

Hashed, The Spartan Group, Sanctor Capital and Galaxy Interactive co-led the round with participation from Hashkey, Big Brain Holdings and Foresight Ventures.
Image source: VentureBeat

Quick take:

  • The company will use the funds to accelerate the development of a multiplayer online roleplaying game with the option for NFT gaming.
  • Binance-backed Xterio incubated the project providing initial funding and technical support.
  • The 3D role-playing game is developed using Epic Games’ Unreal Engine 5.

Overworld has announced a $10 million seed round led by Hashed, The Spartan Group, Sanctor Capital and Galaxy Interactive. The fundraising also attracted participation from Hashkey, Big Brain Holdings and Foresight Ventures.

Overworld is building a multiplayer online roleplaying experience option for NFT gaming. The project was incubated by the Binance-backed Xterio, which provided the initial funding and technical support at the early stages of the development.

Overworld is a third-person 3D action role-playing game developed using Epic Games’ Unreal Engine 5. The game blends high fantasy lore with anime-inspired characters and designs, creating a compelling storyline of epic ventures.

Though currently focused on developing an alpha version for current-gen consoles, PCs and mobile devices, Overworld also plans to implement player ownership in a frictionless and optional way that adds to the ming experience, rather than relying on the concept as the primary feature for building the game.

The company is led by Xterio COO, Jeremy Horn who boasts extensive experience in gaming, entertainment and technology having worked at Jam City as Vice President of Strategy. The team also comprises members who previously worked at Epic Games, EA, Sony, Bioware, and Ubisoft.

Commenting on the fundraising, Horn emphasised his company’s commitment to building a gaming experience driven by the player community.

“The massive scale of Overworld represents the scale of our ambitions as a game studio. In just one year, we’ve seen our player community embrace our first collection of digital collectibles, and we are excited to build out even more of this novel world,” he said.

Ryan Kim, Founding Partner, Hashed commented: “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.”


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