Hulk Labs, a Tokens.com subsidiary that invests in the NFT ecosystem with a focus on play-to-earn games, has acquired play-to-earn crypto gaming assets in Crabada.
Crabada is an engaging play-to-earn (P2E) game where players can mine, loot, breed and battle.
According to CoinGecko on April 26, 2022, “Crabada had more than 12,000 active wallets, making it the 24th most popular crypto game.”
Crabada continues to gain traction with investors and players, with the game’s social media following on a steady uptrend – and a growing reputation as a fun game to play. Being able to make real money feels like a bonus to many players.
Crabada is also the most popular game built on the Avalanche blockchain, generating 64% of transactions on Avalanche at its peak.
In January Tokens.com launched Hulk Labs to exclusively focus on investment in early stage Play-to-Earn startups. Hulk Labs identifies and invests in games at pre-launch. It also provide guidance in tokenomics, marketing and gameplay for early stage P2E games to ensure the success of these projects.
Andrew Kiguel, CEO of Tokens.com, said:
“The Hulk Labs division was created to find exciting, new, and emerging projects with potential for outsized growth in the play-to-earn space. Despite the outback in the crypto market, we believe play-to-earn gaming is the future of online gaming and we want to be positioned to capitalize by attracting the best talent in the industry to our business.”
Earlier this month Hulk Labs made similar acquisition in two play-to-earn crypto gaming startups Arcade Land and BitBrawl.
Play-to-Earn (P2E) gaming is the next big thing in crypto space. It combines the engagement and entertainment value of online gaming, which has over 400 million daily players worldwide, with the possibility to generate real-world revenue through the use of digital asset ownership and gameplay.
Axie Infinity, which has over 3 million daily active users and a fully diluted market cap of over $20 billion, popularised this sector. In the last two quarters, the industry has exploded, with 600+ games and billions of dollars in crypto market capitalization.
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