Kandle: Crypto Gaming Startup Kandle Raises $1.7M From Saama and Others

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Singapore-based crypto-fantasy GameFi project Kandle raised $1.7 million in a seed funding round led by Saama. PointOne Capital, Cloud Capital, Good Capital, Founders Room, Seeders Fund, and CoinDCX CEO Sumit Gupta also participated in the round.

GameFi is an amalgamation of blockchain technology, gaming, and decentralized finance, and allows gamers to earn cryptocurrency and NFTs by playing games on the network. GameFi also enables the transfer of game items from the virtual world, enabling trading on NFT markets and crypto exchanges.

Kandle offers fantastic games using crypto coins, where players compete to win rewards. The web3 startup, which is already present in Southeast Asian countries such as Indonesia and Vietnam, as well as fast-growing markets such as Nigeria and India, plans to expand its footprint in Asia and North America.

There is a huge opportunity at the intersection of gaming and crypto, and we were excited to be at the forefront of this evolution in the crypto fantasy game. “Very grateful for the continued support of our investors as we move forward to realize Kandle’s vision,” said Kandle founder Jaideep Yadav.

Kandle plans to release its project roadmap on token issuance, token utility, and a play-and-win model that seeks to reinvent the play-to-earn ecosystem. Discover the stories that matter to youInstead of focusing on project tokens, we took the time to create a fully functional, sustainable gaming product based on solid gaming principles. Combining gamification and web3 with successful product testing, Kandle plans to integrate smart contracts to ensure 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 risk for the next tranche of users. Kandles’ gamified approach does exactly that, offering a unique and timely tool for users to engage with crypto, without directly exposing themselves to any of the coins, said Ash Lilani, Managing Partner at Saama. Stay on top of tech news and the startups that matter. Subscribe to our daily newsletter for the latest must-have tech news, delivered straight to your inbox.

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