iCandy Interactive Secures $4 million Seed Funding for ZKCandys Expansion

Highlights:

• AU$4 millionSeed Funding Secured: iCandy Interactive Ltd (ASX: ICI) announces ZKCandy’s successful $4 million seed funding round, backed by leading Web3 investors, including Wemix Pte. Ltd. and Animoca Ventures.
• Strategic Growth Initiatives: Funds will enhance ZKCandy’s technology, develop new features, and prepare for its mainnet launch in the first half of 2025, with a focus on expanding partnerships and supporting AAA games.
• Strong User Adoption: Over 2.4 million wallets were created within two weeks of ZKCandy’s open-testnet phase, showcasing strong demand for its innovative Web3 gaming solutions.

Successful Capital Raise to Propel ZKCandy’s Growth

iCandy Interactive Ltd (ASX: ICI) (“iCandy” or the “Company”) has announced that its joint venture, ZKCandy, successfully raised $4 million in a seed funding round. The funding, led by prominent Web3 institutional investors like Wemix Pte. Ltd., Animoca Ventures, and Spartan Group, also saw participation from angel investors and contributors from major Web3 tech firms such as Stacks and Analog. At the time of writing, this capital raise marks a significant milestone for the venture, which aims to revolutionize the gaming ecosystem with its innovative Web3 Layer 2 network.

Strategic Use of Funds

The funds will be used to enhance ZKCandy’s technology, develop new features, and prepare for the mainnet launch scheduled for the first half of 2025. Additionally, ZKCandy plans to grow its network of partners, support AAA game titles, and make its user experience more seamless. The seed funding comes after the successful launch of ZKCandy’s open-testnet phase, which saw over 2.4 million wallets created within two weeks, demonstrating strong user adoption.

Focus on Expansion and Collaboration

ZKCandy is the product of a collaboration between Matter Labs and iCandy, aiming to deliver a dedicated Ethereum scaling solution with a focus on gaming and AI. The Layer 2 elastic chain integrates gaming-specific tools, decentralized infrastructure, and developer resources. ZKCandy’s funding round is expected to positively impact iCandy’s financials, enabling the joint venture to advance its ecosystem and broaden its reach.

Future Prospects

With a pipeline of over 25 games in various stages of development, ZKCandy is positioned to make a significant impact on the gaming industry. The seed funding ensures that the joint venture has the resources needed to strengthen its market presence and drive innovation in Web3 gaming.

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