Binance Labs has led an investment round for Pluto Studio, the GameFi publishing platform that launched Catizen.
Binance Labs claimed in a statement on Tuesday that it was the one that spearheaded the Pluto Studio investment. The money will be used by the business to finance platform-wide growth initiatives.
The funds will specifically help Pluto Studio create its Catizen game engine and tiny app. The cash will also be used by the platform to hire new developers. Ricky Wong, co-founder of Pluto Studio, said in a statement:
“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 added that backing from Binance Labs will help Pluto Studio “take Catizen to new heights.”
Catizen’s traction on Telegram
In recent months, the Telegram and TON blockchain ecosystems have experienced significant growth, driven by the success of viral ventures like Notcoin and Hamster Kombat. Among the companies that introduced the Web3 attention economy to millions of Telegram users was Catizen, which debuted in March of this year.
Using the Telegram user base, the gaming bot has reached over 25 million players and over 1.5 million on-chain gamers. Additionally, Catizen has drawn more than 500,000 subscribers globally. The Open League, a TON Foundation incentive scheme that pays out to TON users, teams, and traders, has shown supremacy for the project.
Pluto Studio intends to release additional mini-games in addition to Catizen. The creators also plan to incorporate Launchpool features, quick videos, and e-commerce into a special mini-app center.
In order to get additional people into the ecosystem, another objective is to capitalize on the increasing interest in gamification and play-to-airdrop programs.
