Korean blockchain startup ISKRA developing P2E game platform attracts seed investment

Play to Earn gaming (P2E) is emerging as a popular online gaming genre with players using NFT tokens, and cryptos, as well now. ISKRA, a Korean startup developing a blockchain-based P2E platform, is aiming to help the community of game players, creators and investors through its blockchain-based game community platform. The company has attracted 42 billion won ($34 million) of seed investment from a number of investment companies, including major domestic game companies.

In this investment round, major domestic game developers such as Wemade, NHN Bigfoot, Neowiz, and Metabora, and Kakao’s blockchain subsidiary Crust, which operates the Klaytn mainnet, participated in this investment round, as well as VCs such as Kakao Ventures and Fast Ventures.

As confirmed by the amount of investment and the aspect of the investment company, expectations and possibilities for the Iskra game platform were highly evaluated. Dongwook Jang, director of Kakao Ventures, who participated in this investment, said, “In addition to the fact that the startup has top-tier talents with expertise and successful experiences in each area of game and blockchain, Iskra has a structure that can motivate the community in the long term and enhance decentralized governance. We decided on investment as Iskra will be able to lead the blockchain game ecosystem and grow the entire market in the P2E game publishing platform.”

ISKRA to launch full-fledged this year

With this fund, Iskra aims to build a blockchain-based game community platform, strengthen cooperation with domestic and foreign game developers, and establish a next-generation blockchain game ecosystem by globally launching games of various genres.

According to Iskra, the launchpad the company is preparing is a ‘community-oriented game platform’ that publishes P2E games of various genres and has a structure in which all community members can receive rewards according to their contribution. It is operated with the voluntary participation of platform members such as game users, developers, investors, and team Iskra, and profits generated on the platform can be distributed fairly.

Iskra game users can secure high scarce value game items (NFT) and contribution points depending on their play performance. In addition, by introducing the game to crypto game users participating in the Iskra token economy, it is possible to lay the foundation for stable growth.

Hong-gyu Lee, CEO of Iskra, said, “Iskra is a startup made up of experts who have accumulated long experience and outstanding performance in blockchain, games, and global businesses. With this seed investment as a stepping stone, we have secured a bridgehead for platform growth and will become the center of the global Web3 game ecosystem with global services.”

Iskra plans to launch its wallet through the Iskra portal in April and then release various linked services such as NFT sales and game launch within this year.

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