Dubai-based mobile game developer Hexacore has successfully secured $3.5 million in funding to further its foray into the world of web3 mobile gaming. This significant financial boost, led by Dubai's tech venture company Scalo Technologies and supported by investors like Xsolla and Estoty, reflects the growing interest in this emerging gaming sector.

Origins

Hexacore's journey began in 2022 when Mikita Khazau, along with Dzianis Krupski, Yuri Zaytsev, and Aleksandr Krivolap, launched the company. With a wealth of experience in the mobile gaming industry, the team has set ambitious goals for their new venture, building on the success they achieved at Apps Hub, where they generated $14 million in revenue and achieved over 350 million downloads.

The recent investment will not only support Hexacore's expansion but also drive the development of a hybrid monetization model for mobile games. This model incorporates in-app purchases, NFT collectibles, and rewarded ads, allowing players to have greater ownership and control over their in-game assets.

Pocket Space

Hexacore's CEO, Mikita Khazau, revealed that their flagship project Pocket Space draws inspiration from popular titles like My Little Universe and Brawl Stars. The game is set in a vast universe of planets, each offering various game modes. However, what truly sets Pocket Space apart is the concept of planet ownership through non-fungible tokens (NFTs), granting players a stake in these virtual worlds. Hexacore has designed a unique economic ecosystem around in-game currency and commissions for planet owners.

Pocket Space promises multiplayer modes and asset ownership mechanics, as well as a dedicated marketplace where players can trade their in-game assets for currency. The game is set to launch its community in Q4 2023, with a soft launch planned for the second half of 2024 and a global release in 2025. Over time, the company also intends to integrate AI technology into its games, enhancing the user experience and community engagement.

Challenges to Overcome

Khazau emphasized the challenge of retaining gamers' attention in an era filled with distractions and shorter gaming sessions. To address this issue, Hexacore plans to expand the reach of its game IP across various platforms and media, including cartoons, books, toys, and clothing. The goal is to create a strong sense of community and engagement among players.

The company envisions mobile web3 games becoming a vital gateway for new users, capitalizing on the growing adoption of cryptocurrency wallets on smartphones in emerging markets to attract mainstream gamers and foster innovation in the gaming industry.

Apple and Google are constantly changing their policies on web3 games in their app stores, which may pose challenges for the growth of web3 gaming. However, Khazau believes that as more players gain access to game mechanics, the appeal of web3-enhanced gaming will grow and these policies will change to reflect the positive sentiments.

Final Thoughts

Hexacore says it is committed to bringing web3 technology into the gaming industry to enhance the user experience, asset ownership, and transactability. By embracing web3 technology, the company aims to enable individuals to own and trade gaming assets while ensuring interoperability across multiple games.

Khazau emphasized that providing true ownership for web3 players can lead to higher engagement, stronger lifetime value (LTV), and better long-term revenue from players. Despite some resistance to NFTs in the West due to market fluctuations, Khazau remains optimistic that the combination of good games and accessibility will boost NFT engagement.