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Binance Labs has announed its new investment in Pluto Stuidos. Here are the blog post about investment from Binance Labs:
Main Takeaways:
– Binance Labs has led an investment round for Pluto Studio, the GameFi publishing platform that launched Catizen.
– Catizen is a groundbreaking gaming bot on Telegram that seamlessly integrates Telegram with the TON blockchain.
Investment Details:
Binance Labs, the venture capital and incubation arm of Binance, has led an investment round for Pluto Studio Limited (“Pluto Studio”), the GameFi publishing platform that launched Catizen.
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Catizen, launched in March this year, is a pioneering gaming bot on Telegram that integrates with the TON blockchain. Leveraging Telegram’s vast user base, Catizen aims to introduce Web3 to a broader audience through interactive mini-games and mobile payment options.
Growth and Impact:
In just a few months, Catizen has grown its community to around 25 million players, including 1.5 million on-chain gamers and over 500,000 paying users globally. The game has dominated the TON blockchain ecosystem, securing the top application spot for three consecutive seasons of The Open League, an incentive program for TON users, teams, and traders hosted by the TON Foundation.
Game Features:
Set in the open digital ‘Meowverse’, Catizen immerses players in a cat-themed world where digital cats serve as credentials for accessing the Launchpool. Players engage in Catizen activities to earn airdrops via its unique play-to-airdrop model, supported by user-friendly interfaces for intuitive interaction. Players can also enhance their cats by merging them to climb leaderboards, potentially yielding higher returns.
Funding Utilization:
Pluto Studio will use the new funding to fuel the growth of the platform through supporting the development of the Catizen mini-app and game engine constructions, making it easier for more developers to join the Catizen ecosystem.
As the venture capital arm and accelerator of Binance, Binance Labs has now grown to be worth over $10 billion. Its portfolio covers 250 projects from over 25 countries across six continents and has a return on investment rate of over 14X. Fifty of Binance Labs’ portfolio companies are projects that have gone through incubation programs.
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