Web3 Gaming Startup M10 Raises a Cool $3 Million: Is This the Future of Play-to-Earn?

Get ready, gamers and crypto enthusiasts! M10, a fresh Web3 game developer, just announced they've raised a whopping $3 million to cook up some seriously competitive multiplayer games. Could this be the next big thing in play-to-earn and crypto gaming? Let's dive in!

M10 isn't your average newbie studio. They're packed with industry veterans who've worked on some massive titles you probably know and love. Think Assassin’s Creed, Grand Theft Auto V, and Red Dead Redemption 2 – yeah, these guys know games.

M10 CEO Maitham Mohamed.

Who's Behind M10?

Leading the charge is CEO Maitham Mohamed, a Forbes 30 Under 30 whiz and former semi-pro FIFA player. Talk about understanding the game from all angles! He's joined by President Lars Buttler, who co-founded Trion Worlds, and Chief Creative Officer Martin Capel, a former game director at Ubisoft on Assassin’s Creed. This dream team is aiming to shake up the Web3 gaming scene.

Lars Buttler, President of M10.

Big Backing for Web3 Gaming Dreams

So, who's throwing in the cash? Big names in the crypto world are betting on M10, including the Sui Foundation, GSR, Big Brain Holdings, and more. The Sui Foundation partnership is particularly interesting, as it suggests M10 will be building on the Sui blockchain – a Layer 1 platform known for being super fast and efficient.

(Quick Crypto Lingo Lesson: Web3 is the idea of a decentralized internet built on blockchain. Blockchain is like a digital ledger that's secure and transparent, often used for cryptocurrencies. Layer 1 blockchains are the base networks, like Bitcoin or Ethereum, but Sui is a newer, faster player.)​

What's the Game Plan?

M10's mission is to go beyond the usual "free-to-play" gaming model, which can sometimes feel a bit… pay-to-win. They want to create a truly fun shooter experience while changing the future of how we play games online.

CEO Mohamed mentioned he wants players to "create their own value and monetize it." Sound familiar, crypto fans? This hints at potential play-to-earn mechanics, where players could earn crypto or digital assets while gaming. Could we be looking at NFTs or in-game tokens? It's still early days, but the potential is definitely there.

Say Goodbye to Aggressive Monetization?

One of the big goals for M10 is to fix the problems with hyper-aggressive monetization in free-to-play games. They believe the current PC and Console F2P market is stuck, and they want to bring in a new era of games that are accessible to everyone and, crucially, more rewarding for players.

Investors are excited about M10's vision.

Sui Blockchain: The Secret Weapon?

The Sui Foundation is clearly excited about M10. Christian Thompson, Managing Director at Sui Foundation, highlighted Sui's commitment to growing the gaming space with "innovative blockchain technology." Sui is designed for speed and low costs, making it potentially perfect for in-game transactions and play-to-earn features.

Martin Capel, CCO of M10.

What's Next for M10 and Crypto Gaming?

M10 is keeping details about their debut title under wraps for now, but with this funding and their experienced team, expectations are high. Could their game be the next breakout hit in Web3 gaming? Could it integrate meme coins or NFTs in exciting new ways?

Keep your eyes peeled on M10 – they might just be building the future of play-to-earn and bringing a fresh wave of innovation to the crypto gaming world! We'll be watching closely to see what they cook up.