KuCoin Labs, the incubator and investment arm of the KuCoin ecosystem, leads the seed funding round for PlayZap Games, a Singapore-based Web3 Gaming platform.
Lou Yu, the head of KuCoin Labs, said:
“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.”
Other investors that had joined the PlayZap’s seed 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.
Abhishek Buchvani, CEO & Cofounder of PlayZap, said:
“We see a massive opportunity in bringing a high-quality playing experience that can be enjoyed by mainstream casual gamers with a sustainable token economy & ownership.”
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.
Apart from investment, KuCoin Labs will also incubate the project, providing support to PlayZap Games in various aspects, including, but not limited to, marketing, PR, business planning and partnerships.