Zebedee has raised $35 million in a new funding round. The capital will be used to further develop its Bitcoin-based payment systems for web3 games. Kingsway Capital led the round with participation from The Raine Group and Square Enix. Existing investors including Lakestar and Initial Capital also participated in the round.
The New Jersey-based company hopes to transform the web3 gaming ecosystem 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. It aims to take the big transaction fees out of blockchain-based cryptocurrencies such as Bitcoin and enables much smaller transaction sizes.
