M10, a web3 game developer specializing in competitive multiplayer games, has successfully raised $3 million in a seed funding round. The investment was led by the Sui Foundation, with participation from GSR, Big Brain Holdings, Monoceros, Blockchain Founders Fund, and Presto Labs, among others. The funding will support the development of M10's debut title and its broader mission to evolve the free-to-play (F2P) gaming model.
M10 Raises $3 Million Led By Sui Foundation
About M10 and Team
M10 was founded by a team of industry veterans with extensive backgrounds in game development and publishing. CEO Maitham Mohamed, a Forbes 30 Under 30 recipient and former semi-professional FIFA player, leads the company alongside President Lars Buttler, who previously co-founded Trion Worlds, and Chief Creative Officer Martin Capel, known for his work as a game director at Ubisoft on the Assassin's Creed franchise. The studio has also recruited a development team with experience working on major titles, including Ghost Recon, Rainbow Six, Watch Dogs, Red Dead Redemption 2, Star Wars Outlaws, and GTA V.
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A New Approach to Free-to-Play Gaming
M10 aims to address challenges in the F2P gaming sector, particularly the issue of hyper-aggressive monetization. The company is developing a new business model designed to enhance player experiences while making games more accessible. By leveraging blockchain technology, M10 seeks to create opportunities for players to generate value within games and participate in a more sustainable gaming economy. Mohamed, reflecting on his early experiences with FIFA Ultimate Team's gray market, recognizes the potential for structural change in gaming and is focused on introducing a more balanced approach to monetization.
The Home for Sui Builders
Strategic Partnership with Sui Foundation
M10's collaboration with the Sui Foundation plays a key role in its development strategy. Sui is a Layer 1 blockchain designed to enable secure, scalable, and efficient digital asset ownership. The platform, built using the Move programming language, supports parallel execution and sub-second finality, providing a strong foundation for web3 gaming. Christian Thompson, Managing Director at Sui Foundation, expressed confidence in M10's vision, stating that the team's expertise and project direction align with Sui's mission to enhance gaming through blockchain technology.
Future Plans and Industry Impact
With its first game in development, M10 is working to establish a sustainable and engaging competitive multiplayer experience. The company's approach combines traditional game development expertise with emerging web3 technologies to introduce a fresh take on F2P gaming. As the studio progresses, it aims to set new standards for competitive shooters while ensuring accessibility and fair monetization for players. The funding round represents a significant milestone in M10's development, establishing the studio as an emerging force in the web3 gaming landscape.
