Kryptomon Raises $10 Million For Its P2E Game
Kryptomon, the living NFT-powered Play-and-Earn gaming project has raised $10 million in a Series A round led by NFX, with participation from PLAYSTUDIOS ($MYPS), Griffin Gaming Partners, Tal Ventures, and Vikram Pandit, former CEO of Citigroup.
The company plans to use the capital to advance Kryptomon's living-NFT game, with an emphasis on the next stage of gameplay implementations, which will include a combat system.
The funding follows Kryptomon's successful Stage 1 game launch in early 2022, which was fueled by two record-breaking Mystery Box sales on the Binance NFT marketplace. Kryptomon's progressive community growth has grown to nearly 500 thousand followers across its social feeds since its start, generating USD 13 million in NFT transactions in less than 5 months.
Umberto Canessa, Founder and CEO of Kryptomon. commented :
“This support from NFX and our additional investors is a springboard to continue scaling our project to be an immersive world with truly unprecedented blockchain technology, helping us make the gaming universe and community we have dreamed of creating since childhood.”
Kryptomon was founded in 2021 by a team with blockchain, gaming, and financial backgrounds. Kryptomon utilizes blockchain, digital genetics, and location-based technologies to create the evolution of crypto and Metaverse gaming.
Gigi Levy Weiss, General Partner at NFX, said:
“Kryptomon has the potential to make an impressive mark on the Metaverse and the Play-and-Earn gaming ecosystem. NFX is proud to contribute to a project that prioritizes building communities and is on the forefront of re-inventing integration of real-world gameplay and digital assets.”
The game runs on the Ethereum blockchain and allows players to collect and train digital pets known as "Kryptomon.” Additionally, players can discover NFTs, $KMON tokens, and in-game additions through monthly augmented reality treasure hunts.