Bitcoin gaming company Zebedee raises $35M in a funding round led by Square Enix 

Bitcoin gaming company Zebedee has recently raised $35 million in a Series B funding round led by the publisher of role-playing video gaming company Square Enix. Kingsway Capital, The Raine Group, Initial Capital, and Lakestar also reportedly participated in the funding round.

While the majority of existing blockchain gaming takes place on the Solana, BNB, and Ethereum ecosystems, Zebedee seeks to grow its games by utilizing the effectiveness of the Bitcoin network. Since receiving new funding from Square Enix, the company has been working on a number of development-related issues.

Zebedee makes it simple for game producers to incorporate micropayments through the Lightning Network, a “layer 2” payment protocol built on top of Bitcoin that enables quick network transactions with virtually no fees.

Zebedee uses the Bitcoin blockchain

Additionally, games created on top of the Bitcoin blockchain are Play-to-Earn games since they allow players to get a tiny amount of Bitcoin in exchange for their time. It’s interesting that Zebedee provides an application programming interface (API) that gives developers access to the technology and programmes required to use the game and receive Bitcoin rewards.

Moreover, Zebedee removed the barrier between traditional games and blockchain games when it launched specialised servers for Counter-Strike: Global Offensive, a well-known online shooter from Valve. The blockchain gaming company featured in the showcase allowed players to wager and win Bitcoin while competing in online matches.

The startup claims that the average transaction size on its platform is only $0.08 worth of BTC using the Lightning Network, making it relatively simple to transfer the most popular cryptocurrency.

Notably, the company has raised roughly $50 million, with $11.5 million coming from a Series A round of fundraising in September 2021.

Gaming startups are gaining massive attention these days, with several companies grabbing funds from major names in the industry. A few weeks back, Web3 gaming infrastructure provider Planetarium secured $32 million in Series A funding. In April, NFT gaming startup Fractal also secured $35 million in a seed funding round.