The decentralized gaming platform KGeN (Kratos Gamer Network) announced on November 20 that it has successfully completed $10 million in ecosystem financing, led by Aptos Labs, with participation from blockchain company Polygon and Web3 gaming platform Game7. Currently, KGeN's total funding has reached $30 million.
This investment has valued KGeN at $500 million, significantly up from the $150 million valuation during the $20 million funding led by venture capital firm Accel in February 2023. This round of financing also attracted multiple investors including Prosus Ventures, Courtside Ventures, Nexus Venture Partners, and Nazara Technologies.
KGeN plans to utilize this funding to scale the platform, launch new features, and expand its influence in emerging markets. The company stated that upcoming plans include enhancing data capabilities, strengthening collaborations with game developers, and improving player rewards and benefits.
The startup stated that this expansion will help it build a more 'fair and dynamic gaming ecosystem,' where players will have ownership of their data and the opportunity to profit from their digital experiences.
Mo Shaikh, CEO of Aptos Labs, stated: 'In the traditional gaming industry, players often lack ownership of their personal data. KGeN is driving significant change in the industry, aiming to empower players with true digital identity ownership and establish new standards for data ownership and usage.'
Agarwal served as the CEO of the diversified gaming and sports media company Nazara Technologies, and co-founded Kratos Studios with angel investor Ishank Gupta in early 2023. After acquiring IndiGG supported by Polygon Labs, KGeN was established. The company currently operates in India, Brazil, Nigeria, Southeast Asia, and the Middle East and North Africa (MENA) region.
KGeN is building a decentralized gaming platform aimed at giving players ownership of their own data. Since 2022, the company has been aggregating millions of micro-game communities in emerging markets and bringing them into Web3, creating the Proof of Gamer (PoG) engine and the Kratos Gaming Network (KGeN).
KGeN provides players with a complete solution for digital identity creation, ownership confirmation, and value realization through its core technology, the Proof of Gamer (PoG) engine. It is understood that this engine has accumulated over 197 million player attribute data, covering 93 data dimensions. This data provides game developers with accurate user profiles and personalized marketing solutions. Currently, KGeN operates in India, Brazil, Nigeria, Southeast Asia, and the Middle East and North Africa, with 10.8 million registered players and 3.3 million monthly active users.
Game publishers and blockchain developers can utilize KGeN's data repository and advanced targeting capabilities to analyze player behavior in depth and interact with their target player groups. This allows them to acquire users and drive their digital assets with high precision.
By integrating Web2 and Web3 ecosystems, KGeN provides game publishers and blockchain developers with deep user behavior analysis. Feedback from partners indicates that using KGeN's solutions can reduce customer acquisition costs (CAC) by 30-60%.
According to data from the company's official website, as of October 2024, KGeN's annual revenue has reached $12.1 million.
Agarwal stated: 'Aptos Labs originated from Meta, which gives them a unique understanding of building communities and leveraging data to help businesses grow. Perhaps it is this understanding that has reinforced their confidence in our framework, which disrupts traditional data storage methods and truly realizes user ownership of data. Through this collaboration, we will drive the expansion of the multi-chain PoG engine. Our goal is to change the existing model of game publishing to make it not only profitable but also fairer, ultimately allowing players to truly control their digital identities and gain economic benefits from it.'
'Original link'
