VICTORIA, Seychelles, August 04, 2022–(BUSINESS WIRE)–On August 4, 2022, KuCoin Labs, the incubator and investment arm of the KuCoin ecosystem, announced that it was leading the seed investment in PlayZap Games, a Singapore-based Web-3 game. Other investors who had joined the round include Arcanum Capital, Oddiyanna Ventures and Prime Block Ventures.
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KuCoin Labs incubates and invests in PlayZap Games (Graphic: Business Wire)
PlayZap Games is a community-based Play-to-Earn (P2E) gaming platform designed for the mainstream gamer base, aiming to deliver skill-based competitive multiplayer games that are fun, engaging, easy to learn, and challenging to play. to master. The entire platform is supported by a fungible token economy, NFTs and blockchain wallet technology, with all live trading and web-3 market posting capabilities. PlayZap will release the first iteration of its app with over 10 of its competitive casual games on the App Store, GooglePlay and web desktop platforms.
The seed cycle investment will mainly be used for the further development of the gaming platform, mobile and desktop version, for the expansion of new gaming IPs, the integration of new partners and to stimulate a wider marketing reach, as well as to extend the impact of the project in the GameFi ecosystem.
“KuCoin Labs believes that gaming will be the gateway to mass adoption of crypto. PlayZap has provided a good opportunity for traditional Web-2.0 gamers to easily switch to crypto gaming with a focus on recreation. The team has a solid background in Web-2.0 gaming with a solid track record, which can be leveraged to boost PlayZap’s ecosystem.” Says Lou Yu, the head of KuCoin Labs.
Regarding incubation, KuCoin Labs will provide support to PlayZap Games in various aspects, including but not limited to marketing/PR/community, business planning and partnership.
Launched in September 2017, KuCoin is a global cryptocurrency exchange with its operational headquarters in Seychelles. As a user-oriented platform focused on inclusivity and reach for community action, it offers over 700 digital assets. Currently, it offers spot trading, margin trading, P2P fiat trading, futures trading, staking and lending to its 20 million users in 207 countries and regions.
In 2022, KuCoin raised over $150 million in investments in a pre-Series B round, bringing total investments to $170 million with the combined A round, for a total valuation of $10 billion. of dollars. KuCoin is currently one of the top 5 crypto exchanges, according to CoinMarketCap. In 2021, Forbes named KuCoin one of the best crypto exchanges. In 2022, The Ascent named KuCoin the best crypto app for enthusiasts. To learn more, visit https://www.kucoin.com.
ABOUT KUCOIN LABORATORIES
Since its launch in May 2018, the KuCoin Investment and Incubation Program has brought together a group of crypto experts for in-depth market research, analysis, investment and incubation in the crypto industry. KuCoin Labs has diversified its investment in early-stage projects to help project owners achieve sustainable growth and success in the decentralized world.
PlayZap is a Play-to-Earn community gaming platform, where players can compete in proven and highly engaging skill-based competitive games and earn native crypto tokens.
PlayZap is a 360-degree gamified Defi NFT ecosystem aimed at bridging the gap between blockchain gaming and the mainstream market while directly connecting gamers to their favorite games. PlayZap offers a full suite of products with its own marketplace, metaverse, wallet and infrastructure support, offering direct support to the P2E ecosystem, bringing it closer to the quality levels achieved by established IPs.
PlayZap’s vision is to bring competitive skill-based gaming to mainstream gamers by providing a secure environment, digital ownership, and fun gaming experience.
For more information visit: https://www.playzap.games/
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