Tag: NFT

NFT-Powered Gaming Platform Kryptomon Raises $10 Million

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Kryptomon has completed a Series A investment round, which was led by NFX and resulted in the firm raising a total of $10 million. The current value of the company is $50 million. In addition to that, it received extra backing from PLAYSTUDIOS, Griffin Gaming Partners, Tal Ventures, and Vikram Pandit, who had previously served as CEO of Citigroup.

The play-to-earn (P2E) platform is a non-fungible token (NFT) game that was established in April 2021 by Umberto Canessa. It is a hybrid of the gameplay of traditional video games like Pokémon and Tamagotchi with the ownership features of prominent non-fungible token projects such as CryptoKitties.

How It Works

Collectible NFT animals with unique, variable genetic qualities are brought to life in the play-and-earn game by drawing influence from classic games. While exploring the vast mythology of Kryptomon’s Metaverse ecology, users may breed, grow, and fight other players’ unique monsters in multiplayer battles.

Monthly augmented reality “Treasure Hunt” events are also a part of this experience. Players may earn NFT eggs, KMON tokens, and other in-game objects by exploring the world around them with the innovative move-to-earn feature.

Big Boost

The listing is about to make things even better. Users of Kryptomon may now get immediate access to a variety of useful features in the game’s other realm. Bybit is a one-stop crypto destination for the expanding Kryptomon community, making it simple to buy KMON tokens, which power all aspects of the Kryptomon play-and-earn experience.

In addition to the treasure hunts and in-game possibilities to earn KMON, the token listing provides a head-start for gamers who want to expand their Kryptomon roster.

“Our game and Metaverse are nothing without our community, and having our token listed on a renowned platform allows us to develop an even greater and more rewarding experience for the next generation of players while expanding our international community.”

Umberto Canessa Cerchi, Co-Founder and CEO of Kryptomon.

Cryptocurrency trading and exchanging is made simple with Bybit’s revolutionary, highly sophisticated, and user-friendly platform. Bybit’s best-in-class infrastructure ensures the safest, quickest, fairest, and most transparent trading experience in the market.

A company founded on customer-centric ideals, Bybit is dedicated to helping cryptocurrency enthusiasts realize their aspirations and gain their liberation. This makes it a great partner for Kryptomon’s ambitious expansion plans.

Are NFTs Headed to Gaming?

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Cryptocurrencies are perhaps one of the most notable developments of the past decade or so and they continue to spawn even more innovations. Now, one of the most talked-about aspects of the crypto landscape is non-fungible tokens otherwise known as NFTs.

What Are NFTs?

As it is with several aspects of the crypto industry, NFTs are still not understood by everyone which is totally understandable. They are simply collectible digital assets that hold value as a form of cryptocurrency and as a form of art or culture. The reason why they are such a big deal is that they are a way to create both scarcity and uniqueness to digital art. You can also think of it as a new vessel of distribution and ownership for an already rather experimental medium.

How This Relates to Online Casinos

Well, if history is anything to go by, the casino industry is likely to pick up on this new buzz much like did with other emerging technologies. Today, bettors can leverage some of the latest technologies on their gambling platforms of choice. These include things like digital currencies, live betting, and even other arguably niche technologies like Augmented Reality (AR) and Virtual Reality (VR).

Now, if we consider the massive popularity of NFT, it is almost guaranteed that a massive push for its adoption in the online gaming world will be a reality soon. The rise of such activities like eSports also serves to prove the potential of the new technology as a way to take online gambling and gaming to the next level.

In many ways, the NFT blockchain network, online gaming, and the online casino industry seem to be built in such a way that they complement each other. Some companies have already begun investing in that future and they are already projecting some pretty impressive returns from that.

Should You Jump In?

People are already trading NFTs which sort of gives it a start that is much like the launch of digital currencies in the early 2010s. However, the phenomenon is still marred in quite a bit of skepticism just in the same way that digital currencies were in the beginning. All things considered, jumping in at this very moment is mainly a question of how much faith you have in what is arguably the future of gambling, art, and entertainment.

There is still a long way to go and a lot to learn before everything falls to place as projected but there are lots of people who are more than happy to be a part of that journey. Are you one of them?