Kryptomon, a creator of an NFT-powered Play-and-Earn gaming project, raised $10M in funding.
The round was led by NFX with participation from PLAYSTUDIOS, Griffin Gaming Partners, Tal Ventures, and Vikram Pandit.
The company intends to use the funds to advance Kryptomon’s living-NFT game, by focusing on the next stage of gameplay implementations, including a combat system.
Kryptomon is led by Umberto Cnessa, CEO. It aims to revolutionize crypto and Metaverse gaming using digital genetics, blockchain and location-based technologies. Set in the Kryptomon metaverse, community members play as “Trainers,” taking care of their own NFT pet monsters, which have a unique and mutable genetic code made up of 38 randomized parameters that determine their physical and behavioral characteristics. They are capable of learning and falling sick. They can also get hungry. Trainers must care for their Kryptomon companions and help them grow.
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.
Since its inception, the game’s community has expanded to nearly 500 thousand followers across its social feeds, generating $13 million worth of NFT transactions in under 5 months.