Iskra, the Stealth Web3 Game Community Platform Scores $34 million USD Led by a Korean Online Giant

Thursday, 7 April 2022, 17:00 HKT/SGT

Iskra's blockchain-powered Web3 game platform redefines existing game publishing models and brings the power back to game developers, game players, and investors

SINGAPORE, Apr 7, 2022 - (ACN Newswire) - Iskra announced that it secured an investment of up to $34 million USD led by Krust Universe, an investment arm of Kakao, a Korean tech giant. Along with Krust Universe, the list of investors read like who's who of the tech and gaming industry; WeMade, MetaBora, Neowiz, NHN Bigfoot, Fast Ventures, Liberty Investment, and Kakao Ventures.

Iskra aims to be the Future of Play, addressing category growing pains, as well as providing exciting opportunities and new game experiences for players, game developers and investors alike.

While Iskra is a new name, a look at the company's management team lineup reveals an all-star cast of blockchain and online game industry veterans with multiple exits between them from companies such as Dayli Financial Group and Tencent Holdings.

"We believe Iskra is pioneering the way to become the next-generation blockchain gaming publishing platform with unique features for game developers, users and other participants. We chose to invest in Iskra because we identify strong synergy between their ecosystem and ours. Together, we will take the blockchain and Web3 gaming industry to the next level," Henry Chang, CEO of WeMade.

Leading this round, Junghoon Kim, Chief Investment Officer at Krust Universe explained, "Iskra is a seasoned team that can combine the best of blockchain and games. During our incubation, the team successfully built a model that incentivizes various stakeholders in the community." The company further added, "Iskra is well aligned with the 2.0 strategy of Klaytn, a Krust portfolio, in which Klaytn becomes a blockchain of choice for gamefi and metaverse."

Up to now, Iskra has been focusing its resources on the company's Web3 game community platform development as well as acquiring the best next-gen blockchain game content the country has to offer. Most of the initial content that will be announced with the platform are from the same group of investors.

"We are excited that Krust, WeMade, and the rest of our investors trust my team and I to execute on our vision of a community-forward system that aligns interests by rewarding its stakeholders based on participation, while integrating sustainable tokenomic solutions for game developers to the platform. This investment will not only bring capital, but also their domain expertise and network to help expand the reach of Iskra's platform," commented Eugene Lee, CEO/Founder of Iskra.

About Krust

Krust incubates innovative startups that are building the next generation of groundbreaking technology applications. By enabling their growth and supporting their global expansion, we aim to contribute to the innovation of humanity.

About WeMade

WeMade Games is dedicated to serving gamers with a portfolio of entertaining, high quality PC and Mobile games. Established in 2000, WeMade Entertainment Co., Ltd. (KOSDAQ: 112040) is an international game developer publisher that has grown from a handful of passionate game pioneers to a group of over 1,000 game enthusiasts.

About Iskra Pte Ltd

Iskra (https://www.iskra.world/) is the Future of Play. The Company is backed by some of the biggest technology and game companies from Korea. Iskra plans to deploy a $200M game fund to launch next-gen Web3 experiences via its Web3 game community platform. Iskra's community-forward system aligns the interests of the community by rewarding its stakeholders based on their participation, while integrating sustainable tokenomic solutions for game developers that join its platform. The Company seeks to bridge the gap in web3 adoption between early adopters and the mainstream by combining enjoyment, sustainability and the latest in blockchain technology.

Media Contact
Ben Colayco, Global Managing Director
E: media@iskra.world
Headquarters: Iskra Pte. Ltd., 24 Raffles Place, #17-04 Clifford Centre, Singapore 048621

SOURCE: Iskra Pte Ltd

Topic: Press release summary
Source: Iskra Pte Ltd
Sectors: Blockchain Technology