Binance Labs Invests in Pluto Studio, Leading GameFi Funding Round
Binance Labs, the venture capital arm of the largest crypto exchange Binance, has made a significant investment in Pluto Studio, the GameFi publishing platform behind the popular Telegram-based web3 game Catizen. The gaming bot has been attracting the interest of investors in recent months, as positive sentiments have dominated the market.
In a recent funding round led by Binance Labs, Pluto Studio received the necessary capital to drive market growth and support the development of the Catizen mini app and game engine constructions. This funding will also make it easier to onboard new developers for the project, further expanding its reach in the web3 space.
Yi He, the co-founder of Binance Labs, expressed excitement about the potential of projects like Pluto Studio to onboard billions of users into Web3. He stated, “Binance Labs is always excited about supporting projects like Pluto Studio that have the potential to onboard billions of users into Web3. We look forward to backing more visionary builders who aim to create products designed for mass adoption.”
Pluto Studios, on their part, praised the support provided by Binance Labs, highlighting how it drives market confidence in the firm’s ability to build infrastructure for web3 entertainment. Ricky Wong, the co-founder of Pluto Studio, emphasized the importance of the funding round in achieving their goals.
The growth prospects of Catizen in the web3 space were also highlighted in the release, with the project boasting about 25 million players and 1.5 million on-chain gamers. Catizen has become a dominant force on the TON network, solidifying its position as the top application for three consecutive seasons of The Open League.
Players engage in Catizen activities to earn airdrops through its unique play-to-airdrop model, with user-friendly interfaces for intuitive interaction. Additionally, players can enhance their cats by merging them to climb leaderboards, potentially yielding higher returns.
Overall, the investment from Binance Labs signals a vote of confidence in the potential of Pluto Studio and Catizen to continue making waves in the ever-evolving web3 space. With the support of such a prominent player in the crypto industry, the future looks bright for these innovative projects.
