Kandle.xyz, an exciting crypto fantasy GameFi project hailing from Singapore, has recently announced the successful closing of a USD 1.7 million seed round, with Saama leading the investment. The funding injection will be utilized to further develop the platform and expand its user base, with a special focus on their flagship product, ‘Crypto Fantasy Leagues.’ This innovative game allows players to select crypto coins as their battle tokens and engage in portfolio-based battles against other players.
Having already established its presence in Indonesia, Vietnam, Nigeria, and India, Kandle.xyz has ambitious plans to expand its reach across Asia and North America.
The seed funding round saw participation from various investors in the gaming and financial services industries, including PointOne Capital, Cloud Capital, Good Capital, Founder’s Room, Seeders Fund, and Mr. Sumit Gupta, the CEO of CoinDCX.
Kandle.xyz offers a range of innovative fantasy games utilizing crypto coins, offering players the chance to compete and win enticing rewards. The project roadmap includes details on token issuance, token utility, and an exciting Play-and-Win model, poised to reimagine the Play-to-Earn ecosystem. With this recent funding boost, Kandle.xyz is set to make waves in the rapidly evolving world of crypto gaming.
In a statement expressing his excitement, Kandle’s founder, Jaideep Yadav, said, “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. ”
He further added, “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.”
Ash Lilani, Managing Partner at Saama – the lead investor in the seed round – expressed his enthusiasm, stating, “We were impressed by the innovative approach of the Kandle team in combining gaming and crypto. 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. Kandle’s gamified approach does exactly that – it offers a unique and timely tool for users to engage with crypto without taking direct exposure to any of the coins.”
Kandle has quickly amassed a substantial following among early adopters looking for a refreshing alternative to the often volatile world of crypto trading. Throughout the past months, the platform has undergone successful beta testing, drawing an astonishing 80,000+ players during its soft launch phase.
With a diverse array of captivating games, including Crypto Fantasy Leagues and the Play-2-Earn format, Kandle has already proven its appeal. The platform’s product roadmap is brimming with more thrilling games, all driven by valuable user feedback. Pioneering a unique fusion of crypto trading skills and fantasy gaming, Kandle stands at the forefront of the industry, offering an engaging and innovative experience.