Zebedee raised $35M from investors including Square Enix for blockchain game payments
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Zebedee has raised $35 million in a new round of funding to further develop its Bitcoin-based payment systems for games and integrate with new partners.
The Hoboken, New Jersey-based company hopes to transform games by adding new revenue streams powered by cryptocurrency, blockchain, and other technologies.
Zebedee enables programmable payments and small transactions to power economies for virtual worlds with near-zero fees. That is, it takes the big transactions fees out of blockchain-based cryptocurrencies such as Bitcoin and enables much smaller transaction sizes.
Kingsway Capital led the round. It was joined by global merchant bank The Raine Group as well as video game giant Square Enix. Existing investors including Lakestar and Initial Capital also participated in the round.
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Zebedee said it has created a platform that allows any game developer to easily add programmable money into their games. Anything that happens in a game can trigger a payment, which is sent instantly and at nearly zero cost.
When a player shoots someone in a competitive CS:GO match, they can take a small amount of money (e.g. a fraction of a cent) from them in real-time inside the match itself. When a character in a platform game jumps and picks up a coin—as in Super Mario—that coin can be worth real money, which the player receives instantly and can also spend
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