Kratos Studios, a indian web3 gaming startup, reached a valuation of $150 million in a seed funding round of $20 million.
Indian Web3 Gaming Studio Kratos Raised $20M in a Seed Funding Round
Kratоs informed that among other investors are such big companies as Prosus Ventures, Courtside Ventures, Nexus Venture Partners and Nazara Technologies. According to the reports, startup also acquired IndiGG, a sub-DAO of Yield Guild Games DAO via a token swap, meaning existing INDI token holders will be swapped to new Kratos tokens.
Kratоs co-founder and the former CEO of Nazara Manish Agarwal told The Block in an interview: “The new token will be launched in 12 months. The current INDI token holders will be swapped for the dollar value they initially invested so that they don’t have to mark down their investment.”
Since its establishment last September, Kratos continues to build the IndiGG brand as a gaming DAO, said Agarwal.
Agarwal also said: “We believe after Polygon, IndiGG could be the next multi-billion dollar company, bringing billions of ad revenue to the exchequer of India and getting millions of earners in India and South Asia. We will then aim to take that playbook to Africa, Southeast Asia, and some countries in the Middle East as well.”
Kratos’s business model brings game developers and gamers onto its platform, earning revenue from both sides.
Ishank Gupta, another co-founder of Kratos, appointed: “We create on-chain profiles of gamers in the form of cohorts, and we let game developers design quests for gamers. Game developers pay us for listing their quests and gamers pay us for validation of their quests. Kratos also helps gamers with the off-ramping process that converts on-chain assets into fiat currency in their bank accounts. Kratos launched the IndiGG app earlier this week and it aims to increase the number of participants on both sides with more games and more gamers”
Argarwal and Gupta said they will work closely with Polygon co-founder Sandeep Nailwal and YGG co-founder Gabby Dizon in order to build the largest gaming DAO in the world.
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