Binance Labs Backs Catizen, Telegram’s Leading Web3 Gaming Platform
- Binance Labs announces an undisclosed investment in the Telegram-based Pluto Studio, the developer behind the popular Telegram’s gaming platform Catizen.
- The funding intends to boost Pluto Studio’s growth by supporting its gaming bot, Catizen.
- The platform looks forward to more innovative projects that fuel mass adoption.
Binance Labs, the venture capital arm of the leading cryptocurrency exchange Binance, has made a strategic investment in Pluto Studio, the developer behind the popular Telegram-based gaming platform Catizen.
This move underscores Binance’s commitment to expanding the Web3 gaming ecosystem and fostering innovation within the blockchain space.
Launched in March 2024, Catizen, a gaming bot on Telegram, has quickly grown to boast approximately 25 million players, 1.5 million on-chain gamers, and 500,000 paying users.
The game enables gamers to earn airdrops through digital cats in a cat-themed world.
According to Binance’s official announcement, the funding round aims to accelerate Pluto Studio’s growth by supporting the development of Catizen’s mini-app and game engine constructions. The exchange believes this move could increase the project’s demand and acceptance.
Binance Labs co-founder Yi He expressed the platform’s enthusiasm for supporting such projects that have the potential to onboard billions of users into Web3. The platform is actively seeking projects that would help drive adoption.
Pluto Studio’s Co-Founder, Ricky Wong, explained the platform’s vision to bring innovative projects to Telegram and TON. Expressing his excitement about the funding program, Wong added,
Pluto Studio’s Co-Founder, Ricky Wong, elaborated on the platform’s vision to bring innovative projects to Telegram and TON. Adding his excitement with the funding program, Wong added:
“We are incredibly thrilled to receive funding from an industry leader like Binance Labs. This investment validates our vision and reinforces our confidence in our ability to build the infrastructure needed to drive the next wave of Web3 entertainment.”
Wong also shared insights into Pluto Studio’s previous funding rounds, which included a $2.2 million seed round and a $4 million strategic Series A round.
Reportedly, asset manager HashKey Capital and the venture capital firm The Open Platform (TOP) were the investors in the Series A round.
Moreover, Pluto Studio has plans to release more Telegram mini-apps. Earlier this month, Telegram founder Pavel Durov revealed the platform’s plan to introduce a mini app store and an in-app browser with support for web3 pages.
