The Binance Labs incubation program has just announced that it has invested in the Web3 gaming sector by supporting Catizen, a mini-game bot on Telegram.

The accelerator for the development of cryptographic projects has led a funding round for Pluto Studio, a GameFi platform that launched Catizen.

The Telegram game, integrated with the TON blockchain, already has a wide range of users and positions itself as one of the most appreciated of the moment. 

Let’s see all the details below.

Gaming on TON: Binance Labs supports the Telegram bot Catizen by the company Pluto Studio

Binance Labs, has revealed that it has invested in Pluto Studio, a company in the gaming sector engaged in the development of game bots on Telegram.

The division of venture capital and incubation of Binance has led a funding for the GameFi platform indirectly supporting also the game Catizen.

This represents a mini-game developed within Telegram, integrated with the blockchain of TON and equipped with an incentive program airdrop.

The commitment of the web3 accelerator of the exchange in supporting these projects reflects Binance’s willingness to follow the current trends in the gaming world.

As reported by Pluto Studio, the GameFi platform will leverage the funding to further enhance its suite of games. The main focus will obviously be on Catizen, the company’s flagship project where implementations for a more efficient game engine are planned.

The goal is to facilitate the entry of new users and make the Telegram mini-game bot increasingly attractive and scalable.

Catizen can make its way through the great noise typical of the gaming world web3 by leveraging the social media Telegram and its large user base to grow more quickly.

Yi He, co-founder of Binance and head of Binance Labs, wanted to speak out to comment on the good news:

“Binance Labs is always excited to support projects like Pluto Studio that have the potential to integrate billions of users into Web3. We look forward to supporting other visionary builders who aim to create products designed for mass adoption.”

On the other front, the response from Ricky Wong, co-founder of Pluto Studio, has arrived, expressing his enthusiasm for the collaboration with Binance:

“We are incredibly excited to receive funding from an industry leader like Binance Labs. We are ready to take Catizen to new heights and bring more innovative solutions to the Telegram and TON ecosystems.”

How does the mini-game Catizen work and how to earn for the airdrop?

As just mentioned, Binance has invested in gaming by offering its support for the mini-game bot of Telegram Catizen. But how does this work exactly?

Catizen is a revolutionary game bot perfectly integrated with TON and set in the open digital ‘MeowVerse‘, a world themed around digital kittens. 

This is the invitation link to access the game https://t.me/catizenbot/gameapp?startapp=rp_27175781

The players engage in various activities focused on the care of virtual cats, “minting” new elements periodically. The goal of the game is to collect as many coins as possible and enhance your account by merging two cats of the same level.

Catizen fully fits into the mini-games bot of Telegram with the play-to-airdrop model, where players will be rewarded for the points collected. The digital kittens act as credentials to access the launchpad and earn cryptographic tokens.

This innovative approach aims to revolutionize the way users access and interact with the Web3 ecosystem.

Supported by user-friendly interfaces for intuitive interaction and the scalability of the TON network, this game has already attracted significant user traffic.

In a few months since its launch, it has already seen its community grow to 25 million players, of which about 1.5 million are on-chain players.

The Telegram Bot has also dominated the TON blockchain ecosystem, securing the top spot in the application for three consecutive seasons of The Open League.

Exploiting the immense traffic of Telegram, Catizen aims to establish a Web3 traffic link on a scale of hundreds of billions.

The support of Binance as an incubator acts as a quality label, with the game gaining credibility even on a more advanced front of the gaming sector.

Another free airdrop is just around the corner, what are you waiting for to participate? Power up your kittens and earn cryptocurrencies.

The trend of games on Telegram

Engaging in the enhancement of the gaming company Pluto Studio, Binance has invested in the currently most trending sector of the blockchain world, namely that of mini-game bots on Telegram.

After the success of Notcoin and Hamster Kombat, users have flocked to this type of game, where the prize is the chance to earn tokens for free.

By performing simple tasks, such as “tap” on the screen or feeding a kitten, you participate in the distribution of a new token as early adopters of that project.

On one hand, the user is happy to fill their free time with a remunerative activity, albeit with limited earning possibilities. On the other hand, the game itself manages to increase network traffic with a low expense.

Currently, according to “TON App” there are about 215 mini-game bots available for use on Telegram, with many more coming by the end of the year. The TON blockchain ecosystem, on the other hand, has more than 1000 decentralized applications with various use cases, from gaming to finance, etc.

DappRadar has released its Blockchain Gaming Report defining Q2 2024 as the best quarter since 2022. In fact, the Web3 gaming and dapp sector has raised 1.1 billion dollars in investments. 

Blockchain Gaming Web3: DappRadar states that Q2 2024 is the best quarter since 2022

The famous platform that analyzes and tracks data on decentralized apps, DappRadar, has released its Blockchain Gaming Report. 

1/ We’ve long believed blockchain gaming will drive Web3 adoption, and recent trends confirm it! In Q2, blockchain gaming saw a 33% increase in dUAW compared to Q1.

Overview in the thread
Read the full DappRadar x @BGameAlliance Q2 Gaming Report. https://t.co/AHDEOqeu9x

— DappRadar Insights (@InsightsByDR) July 11, 2024

In the world of finance, the terms “bull” and “bear” are often used to describe market trends. A “bull” market is characterized by rising prices, while a “bear” market is marked by falling prices. Understanding these concepts is crucial for investors.

“For a long time, we have believed that blockchain gaming will drive the adoption of Web3 and recent trends confirm it! In the second quarter, blockchain gaming recorded a 33% increase in dUAW compared to the first quarter. Overview in the thread, Read the entire DappRadar x @BGameAlliance Q2 gaming report”

From what has emerged, it seems that Q2 2024 was the best quarter since 2022 for investments in the Blockchain Web3 gaming sector. 

The companies in the sector, in fact, have raised investments totaling 1.1 billion dollars, recording an increase of +314% compared to the previous quarter. 

Among the highlights of the report, DappRadar states that blockchain gaming is leading in the Web3 sector, representing 28% of all dapp activity and attracting 2.8 million active wallets every day.

Blockchain Gaming Web3: the first dapp is Ronin with 1.9 million new daily wallets

Leading the Blockchain Gaming Web3 scene is Ronin, the Ethereum sidechain for the Axie Infinity ecosystem.

Ronin has attracted over 1.9 million new daily wallets, with a 100% increase compared to the previous quarter.

Other Blockchain Gaming development platforms that have recorded significant activity this quarter are Immutable zkEVM and opBNB. Specifically, Immutable zkEVM has recorded an increase of 715.136%, while opBNB has seen an 80.459% rise.

Not only that, in terms of unique active wallets in the gaming landscape, there is also Pixels which has attracted 48 million UAW (Unique Active Wallet) throughout the entire quarter.

On the contrary of all these increases, the collections based on metaverse NFT have instead recorded a decrease in Q2 2024. The trading volume dropped by -29%, while sales by -21%.

The 2023 report and the decline of metaverse projects 

On the contrary to the present report on blockchain gaming that shows the growth of sector interest, other previous reports from DappRadar have instead shown changes in the scenario. 

In fact, just last year, DappRadar had published a report stating that projects in the metaverse were experiencing a decline in interest among investors.

In fact, it seems that in Q2 2023, the trading volume of metaverse projects had decreased by 80%, reaching 56 million dollars. 

This decline in interest was interpreted by DappRadar as a change of scenario, leading the public to turn their attention to other topics such as meme tokens and Artificial Intelligence (AI). In any case, the metaverse, at that time, accounted for 43.68% of investments in the Web3 sector.