Cape Town-based Skrmiish, a mobile “Play-to-Earn” app has secured $2.5M in a SEED round to speed its global growth.
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South Africa’s “Play-to-Earn” mobile app, Skrmiish, has raised $2.5M in a SEED round from Launch Africa Ventures, the Blockchain Founders Fund, and Stellar. Launched in 2021, Skrmiish has developed a feature called MoneyMatch that allows players to earn real cash in every match they play, without having to wait for a tournament or find a peer to challenge.
The Gaming industry across the Emerging Venture Markets has had a very high speed journey to to become one of the top industries. Spearheaded by Turkey, the sector observed a 7000%+ YoY growth in funding in 2021 along with the emergence of its first-ever Series A (5) and Series B (1) rounds. Beyond the impressive and fast-paced maturity of the ecosystem, Gaming managed to aggregate over $300M in the first half of the year driven by Turkey's Dream Games which raised $255M in a Series C round, as recorded in our State of Startup Funding - H1 2022 Emerging Venture Markets FREE Report. The wins recorded by the sector are not just limited to Turkey, Nigeria-based Scorefam, a Play to Earn & NFT-based Sport Gaming Platform, closed a $25M round recently.
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MoneyMatch combines a traditional sportsbook approach with traditional AAA+ game play. Players get their MoneyMatch Rating (MMR) based on their performance data once they have synced Skrmiish with their game accounts. Luke Grob, the CEO of Skrmiish, said the partnerships would accelerate the team’s ability to implement the Skrmiish economic value system and build a play-to-earn format for the majority of the world’s gamers. “This is a revolution in the accessibility to earn while playing games and democratizes the competitive esports and blockchain based gaming industries. We’re fired up to launch our new MoneyMatch feature across multiple game titles.”
The SEED funding will enable Skrmiish to accelerate scalability by integrating additional game titles, grow monthly revenue, launch in North and Latin America, and issue its Skrmiish token. “A combination of having the world’s fastest growing youth population together with an exponential increase in digital skills transfer and connectivity amongst the youth, puts young Africans in pole position to be both the leading consumers and creators of content in the competitive video gaming world by 2030,” Zachariah George, Managing Partner at Launch Africa Ventures, concluded. “The Skrmiish team are well positioned to tap into the huge market for skill-based games where we can finally see the true ‘democratization’ and monetisation of young gaming talent.”
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