- Binance Labs has invested in Pluto Studio, the GameFi platform behind the popular Telegram-based Web3 game Catizen.
- Catizen, a top application on the TON network, continues to attract significant interest, with over 25 million players and 1.5 million on-chain gamers.
In the latest development, Binance Labs announced its investment in Gamefi publishing platform Pluto Studio which is behind the popular Telegram-based Web3 game Catizen. In recent months, the gaming bot has seen strong interest from investors dominated by positive market sentiment.
Binance Labs, the venture capital arm of Binance, disclosed its investment in Pluto Studio. This GameFi publishing platform stated that it would use this funding to drive market growth while supporting the Catizen mini app along with other game engine constructions.
This move will further facilitate the onboarding of new developers for the project. Yi He, co-founder of Binance Labs, also expressed enthusiasm about the recent funding round, highlighting its potential to attract more users to the web3 ecosystem. Speaking on the development, He said:
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 praised the backing from the venture capital arm of the largest exchange by trading volume. Ricky Wong, co-founder of Pluto Studios, noted that this support enhances market confidence in the company’s efforts to develop infrastructure for web3 entertainment. Wong also emphasized that the funding round significantly bolsters their initiatives.
Binance Labs Betting on Catizen Growth
The release of the Telegram-based Catizen game has boosted the growth prospects of the company in the rapidly evolving Web3 ecosystem. This project hosts more than 25 million players with more than 1.5 million on-chain gamers.
The game description reads:
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.
Catizen has established itself as the leading application on the TON network, securing top positions for three consecutive seasons of The Open League. The project is generating significant buzz on social media, with users eagerly discussing its impact on web3 gaming and the expansion of the TON ecosystem.
Binance Labs has been supporting key projects from the crypto space for a while. As reported by CNF last month, Infrared Finance, a liquid staking protocol based on the Berachain network, secured an undisclosed sum in a strategic funding round led solely by Binance Labs. The new funds will be used to advance Infrared’s innovative staking solutions, designed to improve liquidity and staking efficiency within the Berachain ecosystem.
Similarly, Binance Labs also invested in cross-chain decentralized exchange (DEX) and bridge aggregator Rango, per the CNF update.
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