CloudFeather raises $1.25M for its Web3 monetization SDK
The startup will provide extra revenue streams for game developers by enabling players to give each other prizes.
CloudFeather Games announced it had raised $1.25 million for a new Web3 SDK called “Bounty Hunting."
CloudFeather Games Raises Capital From Lumikai among others
CloudFeather Games is a Bengaluru-based provider of next-generation plug-&-play real-money gaming (RMG) and Web 3.0 tools for game developers. Venture Highway and strategic angel investors such as Maninder Gulati, global chief strategy officer, OYO, and Manish Agrawal, CEO, Nazara Technologies, also participated in the funding.
Since January 2022, CloudFeather Games has been developing its Software Development Kit (SDK) in stealth and has begun trials with other developers. The firm will use the capital to hire key professionals in business development, product development, and technology in order to scale its developer outreach initiatives for both domestic and international gaming studios.
The concept of Bounty Hunting is rather straightforward: it is a type of betting system. Players create goals by placing wagers with one another, and those who fulfill these goals are compensated. This is to note that both the payee and the payer are players.
Romi Chandra, founder, CloudFeather Games :
“Casual games do not have meaningful monetization avenues outside of ads and in-app purchases (IAPs). Given this, there is room for disruption by providing a novel monetization avenue which supercharges game engagement without developers having to re-design their existing game economies”
Lumikai’s Justin Shriram Keeling also added :
“Romi and Yash have pioneered massive-scale system architectures for RMG platforms serving tens of millions of users. Leveraging their unique technical expertise in this space, they’re building a suite of competitive tools for any game developer to supercharge community retention and monetization, while also providing innovative and fun new experiences for gamers.”
In addition to IAPs and advertisements, CloudFeather offers developers a full-stack competitive format solution (referred to as "tooling kits").
