Binance Labs Invests in Catizen Game Publisher Pluto Studio on TON Blockchain

• Binance Labs has recently made an undisclosed investment in Pluto Studio, the publisher of the popular Telegram mini-game Catizen.
• The investment follows Pluto Studio’s successful fundraising rounds, which accumulated $6 million in total.
• Ricky Wong, co-founder of Pluto Studio, highlighted the strategic importance of this investment spearheaded by Binance Labs.

Binance Labs has made a notable investment in Pluto Studio, showcasing their strategic interest in blockchain gaming innovations.

Binance Labs’ Strategic Investment in Pluto Studio

Binance Labs, the venture capital and incubation arm of the world’s largest cryptocurrency exchange Binance, has announced a strategic investment in Pluto Studio. The exact amount of the investment has not been disclosed. This development signifies Binance Labs’ commitment to fostering blockchain-based gaming platforms, particularly those built on The Open Network (TON) Blockchain.

Details of Pluto Studio’s Fundraising Efforts

Pluto Studio has been proactive in its fundraising efforts, securing $2.2 million in a seed round and $4 million in a strategic Series I round prior to Binance Labs’ involvement. Investors in these rounds included notable entities such as HashKey Capital and The Open Platform (TOP). According to co-founder Ricky Wong, these investments have been crucial in the operational and strategic scaling of Pluto Studio.

Overview of Catizen Game and Its Popularity

Catizen, launched by Pluto Studio in March, is a Telegram mini-game that has quickly amassed a large user base. The game, which involves players tapping buttons on a screen to win rewards, features a roulette-style wheel that determines the type of prizes awarded. Since its launch, Catizen has reportedly reached around 25 million users, with approximately 1.5 million engaging in on-chain interactions and over 500,000 users making payments within the game.

Catizen’s Blockchain Integration and Player Engagement

Catizen leverages blockchain technology to enhance user experience and engagement. Players categorized as “on-chain players” participate in blockchain-related activities, such as connecting crypto wallets, staking in-game assets, and utilizing on-chain transactions to enhance their gaming experience. These features aim to seamlessly integrate blockchain utility with casual gaming.

Upcoming CATI Token Launch

Ricky Wong has announced that Pluto Studio will soon launch its native token, CATI. The token holders will benefit from revenue sharing from the mini-game hub, with a portion of earnings used to buy back tokens and stabilize their price. Additionally, CATI tokens can be staked to earn rewards from other games, and holders will be eligible for future airdrops, adding another layer of interactivity and value for the gaming community.

Conclusion

Pluto Studio’s strategic partnership with Binance Labs and their innovative Catizen game exemplify the exciting potential of merging blockchain technology with the gaming industry. As CATI token launch approaches, the future looks promising for Pluto Studio and its growing user base, underlining the increasing synergy between blockchain advancements and mainstream entertainment platforms.