A relatively novel web 3.0 game community platform called Iskra recently announced the $34 million funding it got from many tech and gaming giants including Korea’s Krust Universe and a host of others. Although this seems surprising due to the fact that Iskra is a new name in the gaming industry, it has shown the potential of becoming an industry leader in Asia’s gaming world. Web 3.0 is enabling the incorporation of blockchain, non-fungible tokens (NFTs), and cryptocurrencies with the gaming industry. This would make gaming user-focused, decentralized, and with economic gains.
Having dubbed themselves the Future of Play, Iskra believes that gaming would evolve into the blockchain in the nearest future and want to lead the way in that blockchain-fused entertainment. According to their website, Iskra plans to be the go-to web 3.0 gaming platform for players, and investors, while integrating sustainable tokenomic solutions for developers and creating new opportunities for games within their community. In addition, Iskra wants to fill the chasm between the early web 3.0 gaming market and the early adopters/the mainstream adopters with the sustenance of the gameplay experience and continuous technological improvement.
Since the advent of the blockchain and web 3.0, gaming companies all over the world have gradually shifted towards creating enjoyable and sustainable web 3.0 game experiences in a bid to make web 3.0 easily adaptable and accessible for gamers. We’ve seen Gala Games allocate $2 billion from its $5 billion NFT expansion budget to gaming, and many other efforts and plans from top gaming and tech companies, all because of the untapped environment of web 3.0 gaming. Iskra plans to lead the race towards web 3.0 gaming in Asia.
With these objectives in mind, Kakao’s investment body, Krust Universe —an incubator for tech startups that intend to create technological breakthroughs— decided to back up Iskra’s plans with an investment of up to $34 million, while also providing access to a $200 million Game Fund. Other big-name investors include WeMade, Liberty Investment, Neowiz, NHN Bigfoot, MetaBora, etc.
You might ask why there’s so much belief in Iskra’s mission, and we’d liken it to the team behind that mission. The team behind Iskra features some top names in the online gaming and blockchain industry like Ben Colayco (Founder of Level Up!, acquired by Tencent Holdings), Eugene Lee, and other veterans from Dayli Financial Group, Disney, Nexon, etc.
With the funding, personnel, and technology behind Iskra, they have been predicted to reach the heights of web 3.0 gaming giants, like North America’s Gala Games and Latin America’s Forte, in Asia.
Iskra plans to release about 40,000 Pioneer NFTs that early adopters of the platform can buy to get a Pioneer role. This would allow them to participate in running the ecosystem by allowing owners of these NFTs to operate network nodes. Pioneers would earn rewards, including 40% of the total supply of the platform’s native token.
$ISK is the platform’s native token and the currency for buying the Pioneer NFT. It would serve as the governance token that holders can use to propose and vote for changes in features and roadmap on the platform. $ISK would serve as a utility token for trading crypto assets on the platform. It would also serve in clearing transaction fees on other services conducted on Iskra.
As a novel platform, Iskra has set out to integrate innovations in and overtake the web 3.0 gaming space with its platform. It is bound to establish a common ground for investors, developers, and players to design their experience.