Crypto gaming startup Kandle raises $1.7 million from Saama, others
crypto fantasy GameFi project Kandle has raised $1.7 million in a seed funding round led by Saama. PointOne Capital, Cloud Capital, Good Capital, Founder’s Room, Seeders Fund, and CoinDCX CEO Sumit Gupta also participated in the round. GameFi is a fusion of blockchain technology, gaming and decentralised finance, and allows players to earn cryptocurrency and NFTs by playing games on the network.
GameFi also allows the transfer of gaming items from the virtual world, enabling trade on NFT marketplaces and crypto exchanges. Kandle offers fantasy games using crypto coins, where players compete to win rewards. The web3 startup, which already has a presence in Southeast Asian nations such as Indonesia and Vietnam, as well as fast growing markets such as Nigeria and India, plans to expand its footprint across Asia and North America.
“There is a massive opportunity at the intersection of gaming and crypto, and we’re excited to be at the forefront of this evolution in crypto fantasy gaming. Super grateful for the unwavering support of our investors as we forge ahead in bringing the vision of Kandle to fruition,” said Kandle’s founder Jaideep Yadav. Kandle plans to release its project roadmap on token issuance, token utility, and a play-and-win model that looks to reimagine the play-to-earn ecosystem.
“Instead of focusing on project tokens, we’ve taken the time to build a fully functioning sustainable gaming product based on sound gaming principles. By intermarrying gamification and web3 with a successful product trial, Kandle plans to integrate smart contracts to ensure that games are transparent, secure, and fair,” Yadav added. “As the crypto industry continues to evolve, we must make it safe and free from the fear of outsized
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