ZKcandy completed a $4 million private funding round, earlier today, on January 6th, 2025. Investors for this round of funding include Wemix, Animoca Ventures, Spartan Group, Perlone Capital, Presto Labs, Flowdesk, Prometheuz, Lecca Ventures, and Efficient Frontier completed the round.
Additionally, early contributors and angel investors from companies including Stacks, Analog, Mittaria, Xangle, and Trading Strategies participated.
What Will The Money Be Used For?
ZKcandy will use the money raised so far to create the first EVM gaming environment based on Telegram, collaborate with significant IP holders to accelerate adoption, create AI gaming agents, and get ready for the mainnet debut in the first half of 2025.
The team intends to make the user experience even simpler, support additional AAA titles and IPs, and broaden its network of partners. By taking these actions, ZKcandy will be able to convert its first success into sustained success.
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ZKcandy Aims As Customer Base Expansion
This funding follows ZKcandy’s open-testnet phase, during which over 2.4 million wallets were generated in just two weeks. ZKcandy’s strategy can reach a large audience and attract important AAA companies, as demonstrated by this early milestone. By facilitating blockchain use for developers and gamers alike, ZKcandy hopes to create a robust and vibrant ecosystem.
“Securing this funding is a big step for us,” said Lau Kin Wai, CEO of ZKcandy.
They add, “Our goal is to make Web3 gaming more open and accessible to everyone. We want to bring in top games and other large IPs and create a space where users can enjoy smooth, secure, and rewarding experiences. With support from our investors, we will keep building toward that vision.”
Created and run by iCandy, the biggest game producer in Southeast Asia with a history of creating more than 500 games, 300 million players, 650 workers, and a public listing on the ASX, ZKcandy is an Ethereum-based gaming network.
ZKsync-powered zk rollup technology is strategically used in this platform, which is specifically made for gaming and meme entertainment within the ZKsync Elastic Network.
ZKcandy’s Funding Round Comes as Sector Sees Rise in Crypto Funding
The funding raise by ZKcandy comes at a time when the entire 2024 saw a rise in the amount of money raised by crypto firms.
In 2024, venture capital funding for cryptocurrency has witnessed tremendous growth. In 2024, 1,535 projects were released to the public, up 26.1% from 1,217 projects in 2023.
Together, these funding announcements demonstrate that, despite market volatility, investors remain confident in the Bitcoin and blockchain space.
A mature market with prospects across a range of blockchain technology applications is indicated by the diversity of projects receiving financing.
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