KuCoin Labs Incubates and Invests in PlayZap Games, a Web-3 Gaming Platform, to Further Advance the Development of GameFi

2022/08/04 11:00:00

On August 04, 2022, KuCoin Labs, the incubator and investment arm of the KuCoin ecosystem, announced that it led the seed round investment in PlayZap Games, a Singapore-based Web-3 Gaming platform. Other investors that had joined the round included Arcanum Capital, Oddiyanna Ventures & Prime Block Ventures.

PlayZap Games is a Play-to-Earn (P2E) community-driven gaming platform tailored for the mainstream player base, aiming to bring skill-based multiplayer competitive games that are fun, engaging, easy to learn, and hard to master. The entire platform is supported by a fungible token economy, NFTs and blockchain wallet technology, with all the live operations and publishing capabilities of the Web-3 market. PlayZap will release the first iteration of their app with over 10 of their competitive casual games on the App Store, GooglePlay, and web desktop platforms.

The seed round investment will primarily be used for the subsequent development of the gaming platform, the mobile and desktop version, for the expansion of new game IPs, new partner onboardings, and to stimulate broader marketing reach, as well as expand the project’s impact in the GameFi ecosystem.

“KuCoin Labs believes that gaming will be the gateway to crypto mass adoption. PlayZap has provided a good opportunity for traditional Web-2.0 players to transition to crypto gaming easily with a focus on leisure. The team has solid experience in Web-2.0 gaming with strong track records, which can be leveraged to power up the PlayZap’s ecosystem.” Said Lou Yu, the head of KuCoin Labs.

Regarding the incubation, KuCoin Labs will provide support to PlayZap Games in various aspects, including, but not limited to, marketing/PR/Community, business planning and partnership.

About KuCoin

Launched in September 2017, KuCoin is a global cryptocurrency exchange with its operational headquarters in Seychelles. As a user-oriented platform focused on inclusiveness and community action reach, it offers over 700 digital assets. Currently, it provides 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 through a pre-Series B Round, bringing total investments to $170 million with Round A combined, at a total valuation of $10 billion. 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 find out more, visit https://www.kucoin.com.

About KuCoin Labs

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 investments into early-stage projects to help project owners achieve sustainable growth and success in the decentralized world.

About Playzap

Playzap is a Play-to-Earn community-driven gaming platform, where players can compete on proven and highly engaging skill-based competitive games and win 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 connecting players directly with their favorite games. PlayZap offers a complete suite of products with its own marketplace, metaverse, wallet, and infrastructural support, giving direct support of the P2E ecosystem, bringing it closer to the quality levels achieved by established IPs.

PlayZap’s vision is to bring skill-based competitive gaming to mainstream players by offering a secure environment, digital ownership, and a fun gaming experience.