Published on January 13, 2025
By: Ertix Truepatch
ZKcandy, a Layer 2 solution on Ethereum to boost Web3 gaming, has raised $4 million in private funding. Major players like Wemix, Spartan Group, and the renowned Animoca Ventures backed the investment. The platform’s team shared the news on their X account.
After completing a public test that generated over 2.4 million wallets in just two weeks, ZKcandy has proven its ability to capture a massive audience. This success highlights its strong potential to attract AAA companies to the Web3 ecosystem.
The platform is focused on making blockchain technology more accessible to both developers and players, aiming to build a vibrant and sustainable ecosystem. Additional investors in the fundraising include Perlone Capital, Presto, Flowdesk, LECCA Ventures, Efficient Frontier, and Prometheuz.
ZKcandy is focused on expanding and making Web3 gaming more accessible. CEO Lau Kin Wai mentioned that the $4 million in funding will help bring the company’s vision to life, stressing the team’s commitment to creating safe and enjoyable player experiences.
“Securing this funding is a big step for us… Our goal is to make Web3 gaming more open and accessible to everyone. We want to bring in top games and other large IPs and create a space where users can enjoy smooth, secure, and rewarding experiences. With support from our investors, we will keep building toward that vision”.
Lau Kin Wai, ZKcandy CEO.
ZKcandy’s portfolio includes over 25 games in development, including one based on a popular Hollywood IP. With the recent $4 million in funding, the company plans to build the first EVM-powered gaming ecosystem on Telegram –games running on a blockchain compatible with the Ethereum Virtual Machine (EVM)- and integrate AI to enhance gameplay.
While ZKcandy is making great strides in integrating Web3 into gaming, one of the industry’s biggest challenges, as highlighted in the 2024 State of the Industry report, is the understanding and adoption of Blockchain by both players and developers. The report notes that 33.6% of professionals identified a lack of understanding as a major barrier, highlighting the urgent need to simplify interfaces and processes in Web3 games to attract a broader audience.
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