Regardless of the industry, the constant struggle has always been a common secret ingredient to the recipe for success. The gaming industry is no exception to it. From the dawn of arcades to the rise of home consoles, the gaming industry has grown quickly over recent years. As time passed, communities became more invested in the gaming industry. Many companies started bringing new ideas to connect gaming with other industries, mainly multimedia platforms.
In 2020, the revenue of the global gaming industry was set to hit $165 billion, with 2.7 billion gamers participating worldwide. With this, the gaming industry has become one of the biggest earning media sectors. According to research by Pelham Smithers, the tidal wave of the gaming industry has only continued to swell over the past few years, and the driving factors have shifted throughout gaming history. With the proliferation of social media games, smartphones, and streaming devices, the gaming industry is progressively booming.
Umberto Canessa Cerchi, one of the co-founders of The Kryptomon Company, believes that the gaming industry will only continue to grow. Cerchi founded and developed Kryptomon, an NFT-powered game, in 2021. Kryptomon is a non-fungible, token-based play-and-earn Web 3 game company. It is known for its in-game economy, $KMON, which uses Binance Smart Chain-based cryptocurrencies. The game is set in a metaverse where trainers look after their NFT creatures. This entertainment inspiration source combines classic games like Pokémon, Crypto Kitties, and Tamagotchi. The game facilitates the trainers to participate in location-based treasure hunts in the metaverse and prepare their Kryptomons for different battles.
In 2021, Kryptomon launched a location-based cross-verse game, the Full Moon Treasure Hunt event. This event was a huge hit as a big amount of players enthusiastically participated by using their smartphone’s GPS to hunt down NFT eggs containing consumable items.
Despite the downturn in the market condition due to the COVID pandemic, the Kryptomon company showed no signs of decline in its progress. In a recent series of funding rounds led by NFX, they’ve successfully raised $10 million, bringing the company’s valuation to $50 million.
Umberto Canessa, expressed his happiness over the successful funding round in an interview, “We are incredibly proud of this funding round which vastly exceeded our original funding goal of $8 million after the first stage of the game launch. This support from NFX and our additional investors is a springboard to continue scaling our project to be an immersive world with truly unprecedented blockchain technology, helping us make the gaming universe and community we have dreamed of creating since childhood.”
Only two months after the funding announcement, Kryptomon has successfully achieved yet another milestone. It has launched a unique user acquisition campaign under the “TikTok for Business” program. This program allows companies like Kryptomon to reach a diversified audience by running their creative ads in video formats on the widely popular platform TikTok.
Kryptomon contains a team of highly specialized professionals from different parts of the world, such as Italy, Netherlands, Israel, India, Brazil, Thailand, and many others. All these international talents have combined their efforts to build and sustain the Web 3 pioneering company.
This NFT-powered gaming franchise leverages its growing society of players to fill the gap in current play-and-earn gaming, emphasizing the all-encompassing gaming universe and rich storytelling in classic AAA titles. Kryptomon is one of the few Web 3 companies writing its own comic book. Their efforts have pushed Kryptomon’s players to immerse in their world. In addition, how these players choose to spend their money will continue to shape and grow gaming history as we know it.
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