Blockchain game developer Crystal Fun raises $5m from KuCoin and others

KuCoin Ventures has backed blockchain game development firm Crystal Fun in an effort to further decentralize gaming platforms.

In a press release on Feb. 20, KuCoin‘s investment arm, KuCoin Ventures, said the “strategic investment” underscores its confidence in the potential of “web3 gaming to reshape the entertainment landscape.” In total, Crystal Fun secured $5 million in seed funding, with contributions from Actoz Soft, Waterdrip Capital, ælf Blockchain, and other investors.

Crystal Fun has developed four blockchain games to date: Endless War, STARFALL2312, Survivor, and OUTER, the latter of which recently completed its initial testing phase. While the specific allocation of the funds remains unclear, it’s understood that the funding will support the company’s efforts to launch games on its proprietary gaming platform throughout the year.

“This investment aligns with our commitment to fostering innovation in the blockchain space and we are excited to be part of the next evolution in gaming.”

Lou Yu, head of KuCoin Ventures

For KuCoin, this appears to be the second deal in February, as earlier this month the venture branch announced another “strategic investment” in Ta-da, a platform that is gathering and verifying data to train artificial intelligence. However, financial details regarding Ta-da’s funding were not disclosed.