KGeN Secures $10M to Enhance Digital Identity Control in Gaming

KGeN, previously known as Kratos Gamer Network, has successfully secured $10 million in funding aimed at enhancing digital identity control for gamers. The financial boost is part of a larger initiative to develop a gaming economy that prioritizes data control for users, reflecting a growing trend in the industry towards user-centric data management.

The funding round, announced on November 22, 2024, will support KGeN’s strategic objectives to empower gamers by giving them more control over their data within the gaming ecosystem. This development comes at a time when digital identity regulations are becoming increasingly stringent globally, with countries implementing new frameworks for user authentication and data control.

By enabling gamers to manage their own data, KGeN aims to foster a more transparent and secure gaming environment, potentially setting a new benchmark for data handling practices within the industry.

The funding round included notable investors such as Accel and Prosus Ventures, contributing to an increase in KGeN’s valuation. Prosus Ventures’ involvement follows their recent pattern of investing in identity verification technologies, as evidenced by their lead role in a $10 million Series A funding round for identity verification company Equal. This investment will be pivotal in supporting the company’s efforts to expand and develop a gaming economy centered on digital identity control.

KGeN’s recent funding marks a crucial step towards redefining data privacy and security in the gaming sector. As the company continues to evolve its platform, it is poised to influence industry standards, encouraging a shift towards a more decentralized and user-centric gaming economy. This development aligns with broader industry trends, as recent regulatory developments indicate increasing scrutiny of digital identity and data privacy practices across the technology sector.

Source: CEO World

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November 22, 2024 – by the ID Tech Editorial Team

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