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3:52 PM · Nov 21, 2024 - Kratos Gamer Network (KGeN), a decentralized gamer network focused on emerging markets, has announced a successful $10 million funding round, propelling its valuation to an impressive $500 million. This latest investment underscores the growing recognition of KGeN's innovative approach to empowering gamers within the rapidly expanding Web3 gaming landscape.
The funding round was spearheaded by Aptos Labs, a prominent blockchain developer, with significant participation from Polygon, another key player in the blockchain space, and Game7, a dedicated Web3 gaming network. This strategic alliance brings together leading forces in the blockchain and gaming industries, further solidifying KGeN's position as a driving force in the future of gaming.
Revolutionizing Gamer Engagement and Ownership:
KGeN is building a revolutionary "Proof of Gamer" (PoG) engine, a reputation system powered by zero-knowledge machine learning (zkML). This cutting-edge technology allows gamers to truly own their in-game data and achievements, creating verifiable profiles that offer tangible value within the KGeN ecosystem. This focus on data ownership and verifiable reputation sets KGeN apart, addressing a critical need in the current gaming industry.
Key features and benefits of the KGeN platform include:
- Proof of Gamer Engine: Leveraging zkML, this engine enables verifiable gamer reputation, empowering players and providing valuable insights to game developers.
- Kratos Gamer Engagement Platform: Reduces customer acquisition costs (CAC) by fostering engaged communities across various game genres and geographies. This platform offers targeted insights to publishers, enabling tailored experiences and increased player loyalty.
- Kratos Marketplace: Allows gamers to convert their in-game reputation into tangible rewards, unlocking exclusive items and experiences. This marketplace also provides publishers with access to pre-qualified, engaged leads, further reducing CAC and boosting lifetime value (LTV).
- Focus on Emerging Markets: KGeN is specifically targeting emerging markets, including India, Brazil, Nigeria, Southeast Asia, and the MENA region, recognizing the immense growth potential within these underserved communities.
- Strong Community Focus: With a community of over 10.8 million gamers, KGeN is fostering a vibrant ecosystem where players connect, compete, and build their reputations.
Funding Allocation and Future Plans:
KGeN plans to utilize the fresh capital to further scale its platform, introduce new features, and expand its presence in key emerging markets. The company is also committed to enhancing its data capabilities, strengthening partnerships with game developers, and improving the rewards and benefits available to its growing gamer community.
This latest investment brings KGeN's total funding to $30 million, a testament to the confidence investors have in the platform's vision and potential. The company's previous funding round, led by Accel with participation from Prosus Ventures, Courtside Ventures, Nexus Venture Partners, and Nazara Technologies, raised $20 million and valued KGeN at $150 million.
The Team and Vision:
Founded in November 2023 by Manish Agarwal, former CEO of Nazara Technologies, KGeN is built on the foundation of Kratos Studios, a Web3 gaming venture launched by Agarwal and early-stage investor Ishank Gupta. Their combined experience and expertise in the gaming industry are instrumental in driving KGeN's mission to empower gamers and revolutionize the Web3 gaming landscape.
Market Opportunity:
KGeN's growth coincides with the explosive expansion of the Indian gaming market and other emerging markets. Reports project significant growth in these regions, highlighting the immense opportunity for KGeN to establish itself as a leading player in the global Web3 gaming ecosystem.
About the Investors and Partners:
- Aptos Labs: A leading blockchain developer focused on delivering scalable and secure solutions for Web3 applications.
- Polygon: A prominent blockchain platform known for its scalability and interoperability with Ethereum.
- Game7: A dedicated Web3 gaming network supporting the development and growth of blockchain-based games.
- Accel: A leading global venture capital firm with a strong track record of investing in successful technology companies.
- Prosus Ventures: The venture investing arm of Prosus, a global consumer internet group and one of the largest technology investors in the world.
- Courtside Ventures: A venture capital firm focused on the intersection of sports, technology, and media.
- Nexus Venture Partners: A leading India-focused venture capital firm investing in early-stage technology companies.
- Nazara Technologies: A leading India-based gaming and sports media platform.
Compiled by CMO Intern team
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