Kandle.xyz, a crypto-fantasy GameFi project, has secured $1.7 million in a Seed investment round that was led by Saama. Saama led the seed investment round, which also included individual investors from the gaming and financial services sectors, including PointOne Capital, Cloud Capital, Good Capital, Founder’s Room, Seeders Fund, and Mr. Sumit Gupta, CEO, CoinDCX.
The funds will be utilised to grow the platform’s user base and market its main product, “Crypto Fantasy Leagues,” which pits gamers against one another in an opponent’s portfolio using their chosen cryptocurrency as their battle token, as reported by Entrepreneur.com
“There is a massive opportunity at the intersection of gaming and crypto, and we’re excited to be at the forefront of this evolution in crypto fantasy gaming. Super grateful for the unwavering support of our investors as we forge ahead in bringing the vision of Kandle to fruition,” said Jaideep Yadav, founder, Kandle.
“We were impressed by the innovative approach of the Kandle team in combining gaming and crypto. As the crypto industry continues to evolve, we must make it safe and free from the fear of outsized risk for the next tranche of users. Kandle’s gamified approach does exactly that – it offers a unique and timely tool for users to engage with crypto without taking direct exposure to any of the coins,” said Ash Lilani, Managing partner, Saama.
Kandle is a play on the name Candlesticks, which is how we read financial performance charts and was created by Jaideep Yadav. By allowing people with experience in cryptocurrency analysis to make calls on the token price and direction or predictions on how they will perform according to research and trends, they hope to offer an entertaining alternative to cryptocurrency trading.