KuCoin invests in Octo’s seed round, accelerating Web3 adoption in mobile gaming
KuCoin has announced its investment in Octo, a mobile gaming platform that rewards players with prizes for their winning efforts. Octo, which has been making waves in the mobile gaming industry for years, has been equipped with Web3 utility through the inception of The Octos, a generative Solana NFT collection that instantly sold-out.
Octo’s registered users enjoy the benefit of being able to earn Solana (SOL) on the Octo App and will soon receive power-ups on in-app games, thus accelerating their earning potential. With the coming introduction of Octo’s native token, $OTK, the ecosystem will offer even more robust Web3 benefits to users.
Under the terms of this partnership, KuCoin Labs has invested in Octo’s seed round, bridging them into the incubation program and providing strategic support to Octo. These efforts include press releases and inspiring the cooperation of Key Opinion Leaders. The ongoing market and research partnership between KuCoin Labs and Octo are said to be both a steppingstone for deeper collaboration opportunities and the start of continued expansion into Asia.
This joint effort between KuCoin and Octo signifies another major advancement in bridging the world to Web3. According to KuCoin, the partnership is a strategic move towards Web3, actively seeking out opportunities for bringing the world into a decentralized era.
KuCoin Labs, which has diversified investments into early-stage projects to help builders achieve sustainable growth and success in the decentralized world, has provided strategic support to Octo, both in terms of an introduction to strategic partners and marketing campaign support.
Octo is a community-driven platform for hypercasual play-to-earn gaming, brought together in a mobile application for Android and iOS. In a model bringing together Web2 and Web3, the Octo app provides players with prizes for their winning efforts, coming in a combination of tokens, NFTS and real-life prizes provided by brand partners.
KuCoin, which offers over 700 digital assets and currently provides spot trading, margin trading, P2P fiat trading, futures trading, staking, and lending to its 27 million users in 207 countries and regions, raised over $150 million in investments through a pre-Series B round in 2022, bringing total investments to $170 million with Round A combined, at a total valuation of $10 billion. KuCoin is currently one of the top 5 crypto exchanges according to CoinMarketCap.
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