The round also comes with backing from major games and guilds, most notably YGG
ROAD TOWN, Tortola, British Virgin Islands, /PRNewswire/ — The Kapital DAO announced today the close of its latest raise, with participation from Polygon Ventures, the Algorand Foundation, and the HBAR Foundation, with grants from the Solana Foundation and NEAR. Also involved were prominent investors such as Yield Guild Games (YGG), Samsung NEXT, GSR, Wintermute Ventures, Keyrock, and Portofino. Gaming strategic partners include Splinterlands, Shrapnel, and Blocklords. The Kapital DAO will also receive ongoing advisory from YGG and Floating Point Group (FPG) along with the leaders of Illuvium, Laguna Games, and Digital Insight Games (DIG). The DAO is expected to vote to drive the funding toward further development and scaling of its technology, which enables institutional-grade asset management for web3 gaming organizations. The Kapital DAO plans to deploy its technology closely with these strategic partners to increase the amount of institutional capital and players flowing through partnered ecosystems. This raise comes at a critical juncture as web3 gaming and large DAOs begin to focus on their key issues with scaling operations and security.
“Recent developments in web3 gaming have demonstrated the need for reliable institutional-grade systems to manage gaming assets and complex operations at scale,” said Sam Peurifoy, CEO of Playground Labs, a core contributor to the Kapital DAO. “We are excited to have the support of major leaders in the gaming and asset management spaces who can accelerate the Kapital DAO’s ability to integrate large players into gaming more seamlessly with regard to asset management. This set of developments will help core sectors of the larger blockchain ecosystem turn up user acquisition to the next level.”
The Kapital DAO is the leading provider of gaming asset management tech, enabling fully trustless management of gaming assets in an institutional framework. Crucially, the Kapital DAO is not a lending protocol, and does not require any technical lift from listed games. This breakthrough is a substantial improvement in a space which ordinarily requires game developers to completely rewrite their smart contracts or reconfigure their game engines to permit asset management functionality. In contrast, the Kapital DAO enables the seamless onboarding of institutional fund-sized organizations into web3 gaming, similar to how new infrastructure facilitated an institutional DeFi boom in 2020.
About the Kapital DAO
The Kapital DAO aims to onboard the next billion players into web3 gaming through scalable and trustless operational infrastructure, as well as large scale internal asset deployment and esports participation within key blue-chip gaming ecosystems. Through close industry partnerships, the Kapital DAO secures robust connections to key smart contracts and public data sources to provide organizations on its platform with a full suite of operational tooling to cover everything from analytics to payouts. For more information, visit www.kapital.gg. For more information on the coming token launch, sign up for updates at https://www.kapital.gg/token.
About Playground Labs
Playground Labs brings digital productivity to life in the metaverse. By developing decentralized autonomous organizations (DAOs) and play-to-earn gaming products within the virtual world, Playground Labs builds next-generation infrastructure for the metaverse economy and enables everyone to generate real economic utility by playing the games they love. For more information, visit www.playgroundlabs.io.
SOURCE Kapital DAO