Catizen: The Rising Star in Gaming
Pluto Studio, the developer behind the popular Telegram game Catizen, has recently obtained funding from Binance Labs, the prominent venture capital and incubation arm of Binance, valued at $10 billion. Although the exact investment amount has not been disclosed, this move underscores Catizen’s increasing traction within the cryptocurrency sector.
Catizen operates as a GameFi asset on the Telegram platform, allowing players to earn rewards through gameplay. It is built on The Open Network (TON) blockchain, which, as of the latest figures, is valued at $6.96, with a market capitalization of approximately $17.5 billion and a 24-hour trading volume of about $210 million.
Ricky Wong, co-founder of Pluto Studio, disclosed that the investment from Binance Labs was part of an equity round, specifically a strategic II round. Discussions with Binance Labs commenced recently, culminating in the closure of the round last week.
Catizen’s Position in the Crypto Ecosystem
Catizen has swiftly established itself alongside other notable projects such as Hamster Kombat and PixelTap. The platform has experienced rapid growth, boasting around 25 million players, which includes 1.5 million on-chain gamers and over 500,000 paying users globally. It also has a significant online presence with 2 million followers on X and roughly 5 million subscribers to its channels.
With the rising popularity of mini-games on Telegram, Pluto Studio is gearing up to expand its offerings. The studio has plans to release 18 additional Telegram mini-games in the near future.
Upcoming CATI Token Launch
Catizen’s native token, CATI, is set to launch soon. The CATI token will provide holders with several advantages, including a share of the revenue from the mini-game center and a portion of funds allocated for token buybacks to help stabilize its value. Furthermore, CATI holders will have opportunities to stake their tokens for rewards from other games and will be eligible for airdrops as Pluto Studio integrates with new projects and introduces Open Task.
In Summary
Pluto Studio’s acquisition of investment from Binance Labs highlights the growing prominence of Catizen in the crypto gaming landscape. With a rapidly expanding player base and forthcoming token launch, Catizen is positioned for significant impact in the gaming and blockchain sectors. The studio’s plans for new mini-games and the benefits associated with the CATI token underscore its commitment to enhancing player experience and engagement in the crypto space.
