Zebedee has raised $35 million for a Bitcoin-based payment system for blockchain games

The company minimizes the transaction fee in Bitcoin-based payment systems.
Zebedee is preparing to expand its partnership portfolio.

Zebedee announced that it had raised $35 million from its investment round, which includes Square Enix as investors. The company wants to provide new revenue streams to blockchain games and keep transaction fees to a minimum.

Kingsway Capital led the investment round. The Raine Group, Square Enix, Lakestar, and Initial Capital were among the prominent investors in the round.

Zebedee is developing a platform that allows game developers to add programmable money to their games easily. This platform aims to capitalize on all assets in any game with low transaction fees. Games that are not currently blockchain games will also be able to use this platform.

According to VentureBeat, thanks to Zebedee’s platform, a player playing CS:GO will be able to earn a small amount of money when they get a “kill,” or a player playing Mario will be able to receive small payments for the points they collect. Of course, these games need to use Zebedee’s API for this to happen.

Zebedee offers developers an API. This API allows easily programmable money to be added to any game. There is also an app for players where players can trade and trade. The company states that this API is pretty easy to implement in games.

The company uses the Bitcoin Lightning Network to develop the mentioned platform and payment methods. This network allows blockchain transactions to occur quickly.

Zebedee CEO Simon Cowell says:

“We are pleased to be in a position where we can confidently scale our team and grow our business even as the macroeconomic backdrop becomes increasingly uncertain. This funding round gives us the ability to meet our highly ambitious roadmap both in terms of building out our infrastructure to support the hundreds of millions of users that play our partners’ games, as well as hire the top-level talent needed to ensure every partner has the best possible experience working with Zebedee.”

Afonso Campos, a Managing Partner of Kingsway Capital, the leader of the investment round, adds:

“We are excited to lead Zebedee’s latest funding round and support their continuing mission to become the Bitcoin enabler of choice for their partners. Partnering with Zebedee will allow its entire ecosystem to benefit from higher user retention, lower transaction costs and generally a superior payments experience. Importantly, it will also help bring Bitcoin to millions around the globe.”

Users now have a chance to turn the time they spend playing games into income. For traditional games other than Web3 games, this has not been possible until now. Of course, players could trade between themselves or through third-party services. Thanks to Zebedee, this will change and blockchain-based trading can be built into traditional games.

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