KuCoin Labs

KuCoin Labs, the incubator and subsidiary arm of the KuCoin ecosystem, has successfully led the seed funding round for PlayZap Games, a Singapore-based Web 3 gaming platform. PlayZap Games will now use the secured funds to advance the development of gaming finance (GameFi).

In an August 4 press release, KuCoin Labs announced that it led the seed round investment in PlayZap Games. PlayZap Games is a play-to-earn community-driven gaming platform where players can compete in proven and highly engaging skill-based competitive games and win non-fungible tokens (NFTs).

The recent funding initiative spearheaded by KuCoin Labs also saw the participation of notable investment gaming ventures, including Arcanum Capital, Oddiyanna Ventures & Prime Block Ventures, among other investors.

According to the recent announcement, the Singapore-based gaming platform will primarily use the secured funds for the subsequent development of the gaming platform, including the creation of mobile and desktop gaming app versions, expansion of new game IPs, and new partner onboardings.

KuCoin Labs believes these advancements will stimulate broader marketing reach and expand the project’s impact in the GameFi ecosystem. Lou Yu, the head of KuCoin Labs, remarked:

“KuCoin Labs believes the gaming will be the gateway to crypto mass adoption. The team has solid experience in Web-2.0 gaming with strong track records. PlayZap can leverage that experience to power up the PlayZap’s ecosystem.”

Launched in May 2018, KuCoin Labs is an incubation platform bringing together a group of crypto experts for in-depth market research, analysis, investment, and incubation in the crypto industry. KuCoin Labs focus on helping project early-stage projects to achieve sustainable growth and success in the decentralized world.

Under the recent integration, KuCoin Labs will support PlayZap Games in various aspects, including marketing strategies, business planning, and other partnerships. PlayZap anticipates bringing skill-based competitive gaming to mainstream players by offering a secure environment, digital ownership, and a fun gaming experience.

PlayZap Games has joined the list of best trending crypto games in the decentralized gaming space. Other blockchain-powered play-to-earn (P2E) games making headlines includes Battle infinity and Tamadoge.

KuCoin’s Previous Funding Rounds

In May 2022, KuCoin raised more than $150 million in investments through a pre-Series B funding round, bringing its total investment to $170 million. At the time, its total market valuation surpassed $10 billion. In December 2021, Forbes ranked KuCoin the best crypto app for enthusiasts.

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