Coming just 8 months after founding, the funding comes from leading blockchain, gaming, and tech investors including NFX, PLAYSTUDIOS, Griffin Gaming Partners, Tal Ventures, and Vikram Pandit, ex-CEO of Citigroup
Kryptomon, the living NFT-powered Play-and-Earn gaming project combining Pokemon, Tamagotchi, and CryptoKitties, close a $10 million private funding round spearheaded by NFX with additional backing by PLAYSTUDIOS ($MYPS), Griffin Gaming Partners, Tal Ventures, and Vikram Pandit, former CEO of Citigroup. The funding propels the development of Kryptomon’s living-NFT game, the first-ever in the NFT gaming industry that integrates real-world gaming with Metaverse capabilities.
The funding arrives on the heels of Kryptomon’s successful Stage 1 game launch in early 2022, powered by two record-setting Mystery Box sales on Binance NFT marketplace. Since its inception, Kryptomon’s progressive community growth has expanded to nearly 500 thousand followers across its social feeds, generating $13 million worth of NFT transactions in under 5 months. Kryptomon leverages its growing society of players to fill the gap in current Play-and-Earn gaming, emphasizing the all-encompassing gaming universe and rich storytelling seen in classic AAA titles.
Kryptomon reimagines blockchain-based gaming, creating an interactive Metaverse via collectible, living NFT creatures in a community-centered world. Merging nostalgic appeal with modern gaming, Kryptomon retains the world-building qualities of Pokemon while incorporating blockchain technology seen in titles like Splinterlands. The project’s expansive environment prioritizes gameplay experience and exploration, while players can additionally discover NFTs, $KMON tokens, and in-game additions through monthly augmented reality treasure hunts. Additionally, Kryptomon “trainers” can sell, trade, and mint NFTs directly through its native KMarket NFT marketplace after buying their initial creature.
The recent investment powers continuing development of the game platform and caliber beyond its Stage 1 launch in early February. Kryptomon is expanding its Play-and-Earn mechanics and further combining real-world and Metaverse gameplay. The funding round solidifies the increasing outside interest in the project and provides a foundation for Kryptomon to focus on the next stage of gameplay implementations, including a combat system.
NFX is the foremost investor leading the activity for Kryptomon’s latest funding round. As a venture firm championing pre-seed and seed-stage projects, NFX’s roster spans across industries and early backing in names including Lyft, Playtika, Patreon, and countless others. Accompanying the early dedication from NFX are investments from PLAYSTUDIOS, a leading mobile game developer and publisher that enables its players to earn real-world benefits through its unique playAWARDS Play-and-Earn loyalty platform. Kryptomon has additionally secured funding from Tal Ventures and Vikram Pandit, ex-CEO of Citigroup.
“Kryptomon has the potential to make an impressive mark on the Metaverse and the Play-and-Earn gaming ecosystem,” explained Gigi Levy Weiss, General Partner at NFX. “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.”
“We are incredibly proud of this funding round which vastly exceeded our original funding goal of $8 million after the first stage of the game launch,” says Umberto Canessa, Founder and CEO of Kryptomon. “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.”