Gaming platform

KuCoin Labs Incubates Web3 Gaming Platform PlayZap Games

KuCoin Labs, incubator and investment arm of global crypto exchange KuCoin, has invested in PlayZap Games, a web3 gaming platform, according to a press release seen by Invezz.

PlayZap Games offers a Play-to-Earn (P2E) gaming ecosystem backed by an NFT economy and blockchain wallet. The platform is about to release its first app iteration on Google Play, App Store and desktop, with 10 casual games.

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KuCoin Labs leads PlayZap seed round

In the announcement, KuCoin Labs reveals that it led seed round investment in Singapore-based PlayZap Games, a funding round the gaming platform is looking to tap into as it grows. further its GameFi ecosystem.

Specifically, PlayZap Games is looking to use the funds to develop new gaming IPs and onboard more partners. Part of the new capital injection will also go towards improving the marketing team, as it aims for greater adoption amid fierce competition in the space.

Lou Yu, head of KuCoin Labs, commented on the partnership:

KuCoin Labs believes gaming will be the gateway to mass crypto adoption. 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 strong background in web 2.0 gaming with a strong track record, which can be leveraged to power the PlayZap ecosystem.

PlayZap’s incubation will see KuCoin Labs support the game in marketing, business planning and through partnerships, the two platforms said in the statement.

The seed round also attracted participation from Arcanum Capital, Oddiyana Ventures and Prime Block Ventures.

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