Kandle Raises $1.7 Million in Seed Funding to Revolutionize Crypto Fantasy Gaming

• ByStartupStory     |    July 25, 2023

Kandle, a Singapore-based crypto fantasy GameFi project, has recently secured a substantial USD 1.7 million seed round led by Saama, a prominent investor in the gaming and financial services industry. The funds will be utilized to further develop the platform and expand its user base. The highlight of Kandle.xyz is its flagship product, ‘Crypto Fantasy Leagues,’ a captivating game that allows players to select crypto coins as their battle tokens and compete against other players in a battle of the portfolios.

The company has already made its presence known in countries like Indonesia, Vietnam, Nigeria, and India, and has ambitious plans to expand across Asia and North America. The seed funding round saw participation from several key investors, including PointOne Capital, Cloud Capital, Good Capital, Founder’s Room, Seeders Fund, and Mr. Sumit Gupta, the CEO of CoinDCX.

Jaideep Yadav, the founder of Kandle.xyz, expressed his enthusiasm for the project’s potential at the intersection of gaming and crypto. He highlighted the company’s commitment to building a fully functioning sustainable gaming product based on sound gaming principles. Kandle’s vision revolves around intermarrying gamification and web3 to create transparent, secure, and fair games using smart contracts.

Ash Lilani, Managing Partner at Saama, praised Kandle’s innovative approach in combining gaming and crypto. He emphasized the importance of offering users a safe and low-risk entry point to the crypto industry, which Kandle’s gamified approach successfully achieves.

Sumit Gupta, CEO of CoinDCX and an investor in Kandle, expressed his confidence in the platform’s potential to become a leading player in the crypto gaming industry.

Kandle has already gained significant traction among early adopters seeking an alternative to the volatile world of crypto trading. During its soft launch and beta testing phase, the platform attracted an impressive 80,000+ players.

The company offers a range of exciting games, including Crypto Fantasy Leagues and Play-2-Earn formats, with more innovative games planned for the future based on user feedback. Kandle is set to bridge the worlds of crypto trading skills and fantasy gaming, creating a unique and engaging experience for its users.

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