KuCoin Labs Invests in PlayZap Games to Boost GameFi

The KuCoin ecosystem’s startup and investment shoulder, KuCoin Labs, disclosed on August 4, 2022, that it had led the seed round investment in PlayZap Games, an Asia Web3 Game console. Arcanum Capital, Prime Block Ventures, and Oddiyanna Ventures were some of the additional investors who participated in the round.

Aimed at bringing skill-based multiplayer tournament matches that are entertaining, interacting, simple to learn, and challenging to master, PlayZap Games is a community-driven Play-to-Earn gaming platform. The NFTs, fungible asset economy and blockchain wallet technology underpin the entire ideology, which also has all the LIVE trading and posting features of the Web3 real economy.

On the Google Play store and computer internet platforms, PlayZap will launch the first version of their application, which includes more than ten of their highly competitive social games.

The seed round investment would be mainly used for the ongoing expansion of the game console, including the desktop and smartphone versions, the growth of new partner onboardings, new game IPs, augmentation of the project’s effect, and stimulation of wider marketing grasp, in the GameFi ecosystem.

According to KuCoin Labs, widespread adoption of cryptocurrencies will begin with gaming. With such an emphasis on leisure, PlayZap has given established Web-2.0 users a great chance to switch to crypto gaming quickly.

The squad has a solid background in Web-2.0 gameplay, which can be used to strengthen the PlayZap ecosystem. Concerning the evolution, KuCoin Labs will assist PlayZap Games in several ways, such as but not restricted to corporate strategy, advertising, as well as partnership.

About KuCoin

KuCoin is a global cryptocurrency exchange that was established in 2017 and had its operations and maintenance head office in Seychelles. It provides more than 700 digital assets as a consumer-oriented platform focusing on inclusivity and community action. It actually provides its 20 million customers in 207 countries and locations – Spot trading, Profitability trading, P2P fiat trading, Futures markets, staking, and loaning.

KuCoin raised more than $150 million in 2022 via a pre-Series B Round, bringing the total investment opportunities with Round A to $170 million for an accounting approach of $10 billion. As per CoinMarketCap, KuCoin is currently among the top 5 cryptocurrency exchanges, and Forbes listed KuCoin as one of its Finest Crypto Exchanges in 2021. KuCoin was selected as the Best Crypto App for Fans in 2022 by The Ascent.

The KuCoin money invested and incubation program has assembled a gathering of cryptocurrency experts ever since the May 2018 launch for in-depth market analysis, assessment, investment, and incubation in the cryptocurrency community. 

About Playzap

Playzap is a community-driven P2E gaming platform where users can start competing in tested and extremely captivating skill-based team matches for prizes of native cryptocurrency tokens.

Roxanne Williams

Roxanne Williams has recently joined as a market reporter for CryptoNewsZ - the 24/7 crypto news site, where she produces recent stories, technical analysis and price updates on world's leading cryptocurrencies.

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