Binance Labs Invests in Telegram Game Catizen’s Publisher, Pluto Studio

Last updated:07/23/2024

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Binance Labs Invests in Telegram Game Catizen's Publisher, Pluto Studio

Binance Labs, the billion-dollar venture capital and incubation unit of leading crypto exchange Binance, has made a strategic investment in Pluto Studio, publisher of Telegram’s popular mini-game Catizen.

This undisclosed funding joins Pluto’s recent $6 million fundraising in two rounds, highlighting its growing popularity and potential.

Binance Labs Invests in Pluto Studio – Boosting Crypto Adoption
Pluto Studio: Overview & Benefits
Pluto Studio: Optimization Plans
Citizen Token Launch Timeline

Binance Labs Invests in Pluto Studio – Boosting Crypto Adoption

Prior to this investment, Pluto Studio had already raised two rounds of funding, including a $2.2 million seed round and a $4 million strategic I round.

Wong disclosed that HashKey Capital and The Open Platform (TOP) were among the investors in the strategic I round, further validating Pluto Studio’s vision and potential.

HashKey Capital and TOP also announced their investment in Pluto Studio last week, though the specific funding amount was not disclosed.

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Pluto Studio: Overview & Benefits

The heart of Catizen lies in its dynamic and engaging roulette-style gameplay. Players spin the wheel to unlock a wide array of rewarding prizes, providing a thrilling experience that keeps them coming back for more. This compelling gameplay has propelled Catizen to unprecedented heights, attracting a staggering 25 million players worldwide in just a few short months.

Amidst this meteoric rise, Catizen has also boasted an impressive 1.5 million on-chain gamers and over 500,000 paying users globally. These numbers reflect the game’s widespread appeal, attracting players from all backgrounds, regardless of their familiarity with blockchain technology. Wong, representing Pluto Studio, emphasized that Catizen caters to a diverse player base, from casual enthusiasts to blockchain aficionados.

To ensure the authenticity and integrity of its user base, Catizen has implemented stringent measures to deter bots and maintain a fair gaming environment. Wong assured that the game’s user data is genuine, reflecting the genuine interest and enthusiasm of its players.

Furthermore, the average revenue per paying user has surged to an impressive $30.7 this week, highlighting the monetization potential of Catizen’s innovative gaming model.

Pluto Studio: Optimization Plans

Harnessing fresh capital, Hong Kong’s leading Pluto Studio is poised to unleash an array of captivating Telegram mini-games. Having secured contracts for 18 enticing games, the studio is set to roll out these exciting offerings in the imminent months. Beyond gaming, Pluto Studio is venturing into new horizons, currently developing an innovative short drama series that ingeniously integrates web3 elements, promising an unparalleled entertainment spectacle.

To deepen user engagement and community connection, an e-commerce mini-app is also in the works. This platform will enable enthusiasts to immerse themselves further in Pluto’s ecosystem by purchasing exclusive merchandise and other coveted items directly through its intuitive interfaces.

Wong, the visionary leader behind Pluto Studio, shared that the studio’s team currently boasts over 30 passionate professionals and he intends to expand this roster by recruiting additional talents in product management and marketing. With these strategic initiatives in motion, Pluto Studio is poised to solidify its position as a trailblazer in the gaming and entertainment industry.

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Citizen Token Launch Timeline

Moreover, Wong emphasized that a portion of the mini-game center’s revenue will be allocated to the treasury, where it will be used to buy back tokens and stabilize their price. This strategic move aims to provide token holders with a sense of security and stability in the long run.

Additionally, CATI holders will have the opportunity to stake their tokens to earn rewards from other games, further enhancing the value proposition of holding CATI. This staking mechanism offers holders a passive income stream, incentivizing them to hold onto their tokens for longer periods.

Looking ahead, Wong revealed that CATI holders will also be eligible for airdrops when Catizen introduces Open Task and integrates with other projects in the future. This integration will expose CATI to a wider audience, potentially increasing its demand and value.

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