KGeN, the decentralized gaming platform, has raised $10 million in funding in an ecosystem round led by Aptos Labs, the blockchain developer.  It brings a wave of fresh air into the space of Web3 Gaming. 

Valuation 

The latest round of funding spearheads the valuation of the KGeN to $500 Million on a fully diluted basis in contrast to its last valuation at $150 million. Its last funding had amassed 420 Million in funding led by venture capital firm Accel and participation from investors such as Prosus Ventures, Courtside Ventures, Nexus Venture Partners, and Nazara Technologies among others in February 2023.

This brings the total funding received by KGen in various rounds to $30 Million to date. 

WE SECURED THE BAG! ????

Excited to announce our recent $10M Ecosystem Funding — led by @Aptos, with @G7_DAO and @0xPolygon joining forces ????

…and our next leg is where the game is at ???? pic.twitter.com/bItH52szGY

— KGeN ???? (@KGeN_IO) November 21, 2024

Fund Usage 

The company plans to use the funds to scale its platform, introduce new features, and expand to merging markets. The company envisions focusing particularly on broadening the scope of its data capabilities, strengthening partnerships with game developers, and enhancing rewards and benefits for gamers.

Equitable & Dynamic Ecosystem

The company envisions a Dynamic & Equitable gaming ecosystem through the infusion of recently received funds. It aims to enable gamers to have greater control and opportunities to monetize their digital experiences.

Greater Control Over Data 

 Mo Shaikh, CEO of Aptos Labs remarked, "KGeN is driving a major shift in how gamers own and control their data," reports Moneycontrol. 

"In an industry where players often lack control, KGeN is giving them true ownership of their digital identities. We’re proud to support KGeN as they set a new standard for data ownership and use," he added. 

Offerings 

The startup is developing a decentralized gaming network enabling gamers to own their data. Since 2022, the company has been bringing together millions of micro-gaming communities across emerging markets, transitioning them to Web3. This effort aims to create the Proof of Gamer Engine and The Kratos Gaming Network (KGeN), two of its flagship offerings. 

Operational capabilities

 
The firm currently operates in India, Brazil, Nigeria, Southeast Asia, and the Middle East and North Africa (MENA) regions. Its Proof of Gamer (PoG) Engine boasts of over  197 million gamer attributes across 93 data points while KGeN boasts of 10.8 million gamers, out of which 3.3 million are active users.  

Its USP 

Having a platform enables the company to collect a handsome amount of data later making it easy to make decisions with customer acquisition. It claims that it has garnered a 30-60 percent reduction in customer acquisition costs (CAC), thereby enhancing the eventuality of its marketing efforts.