Binance Labs Invests in Telegram Game Publisher Catizen

The venture arm of the largest cryptocurrency exchange, Binance, has invested in Pluto Studio, the publisher of the mini-game Catizen for Telegram. The amount of the investment remains undisclosed.

Previously, the developers raised a total of $6.2 million in investments ($2.2 million in a seed round and $4 million in a strategic round, with participation from HashKey Capital and The Open Platform).

Pluto Studio introduced Catizen in March. The game, based on the Tap-to-Earn model, quickly gained popularity, reaching 25 million users in just a few months.

The developers plan to release a native token for the clicker game, CATI, “soon.” Holders of this asset will receive “various benefits.”

“We will also allow CATI holders to stake their tokens to earn coins from other games,” noted Pluto Studio co-founder Ricky Wong.

He added that holders of the native token may also be eligible for airdrops in the future “thanks to integrations with other projects.”

As reported, amid the excitement surrounding crypto games, the number of active Telegram users has approached 1 billion.