Web3 Cricket Strategy Game Cricinshots Raises Pre-Seed Fund
The fund raised will be utilized to accelerate the product development and strengthen the team
Web3 cricket strategy game, Cricinshots, has raised a pre-Seed funding round led by Antler India. The fund raised will be utilized to accelerate the product development and strengthen the team.
"Users are the most critical element of any gaming ecosystem and the existing games do not allow for them to be entitled to any upside in a meaningful way. India loves cricket so it seemed like the most natural first step to build new-age games with Wega Labs. Also, both traditional and modern cricket games lack solid strategy elements and fail at long-term engagement, and we are solving this with Cricinshots. The larger vision is to build games in multiple genres, which will come together to form an interoperable metaverse," said Harsh Savergaonkar, co-founder, Cricinshots and Wega Labs.
Wega Lab's first project is the mobile cricket game, Cricinshots. One of the key features of the game is its play-and-earn model, a mechanic that allows gamers to leverage their skills and time into rewards through winning matches, or owning stadiums and a variety of NFTs, as per company statement.
"As experienced global investors in web3 and blockchain, we continue to believe that strong Indian teams will shape the future of web3 and gaming infrastructure and applications, especially those that facilitate the onboarding of next billion users to web3. It is dramatically expanding the design space within gaming, allowing for new business models, plus decentralized ownership and control. The Cricinshots team has a nuanced understanding of gamer personas and are using their gaming experience to build something truly engaging," said Nitin Sharma, partner, Antler India.
Founded in 2021 by Harsh Savergaonkar and Aditya Kasibhatia, Cricinshots aims to redefine gaming experiences for the next generation of gamers and cricket fans in India and beyond.
Early-stage VC firm, Antler claims to deploy $100 million to $150 million in more than 100 India startups over the next 5 years.