KuCoin Enters Strategic Partnership with Octo, a Play-to-Earn Web2 & Web3 Platform with 3 Million Users
KuCoin has continued to share its goals in advancing towards Web3, actively seeking out opportunities for bringing the world into a decentralized era. With a major transformation underway, much of the world has turned to play-to-earn (P2E) as an accelerator into Web3.
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KuCoin Enters Strategic Partnership with Octo, a Play-to-Earn Web2 & Web3 Platform with 3 Million Users (Graphic: Business Wire)
In that vein, Octo is the perfect nexus to that end, as the platform has been making waves in mobile gaming for years. Players of Octo have been redeeming prizes such as tech or apparel, for their winning efforts for years- truly a P2E experience before P2E was in the industry ethos. Thus, elucidating what sets Octo apart from its competition is simple; most P2E projects are at the MVP or concept phase, and have zero track record behind their efforts. In stark contrast, Octo is a working app with millions of registered users that has been doling out prizes &cryptocurrency to its players for years.
More recently, the platform has been equipped with Web3 utility through the inception of The Octos- a generative Solana NFT collection that instantly sold-out. Octo holders 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- thus bridging them into the incubation program & providing strategic support to Octo, both in terms of an introduction to strategic partners and marketing campaign support. 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.
Taken together, joint efforts between KuCoin and Octo will signify another major advancement in bridging the world to Web3.
Launched in September 2017, KuCoin is a global cryptocurrency exchange with its operational headquarters in Seychelles. As a user-oriented platform with a focus on inclusiveness and community action reach, it 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.
In 2022, KuCoin raised over $150 million in investments through a pre-Series B round, 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. Forbes also named KuCoin one of the Best Crypto Exchanges in 2023. In 2022, The Ascent named KuCoin the Best Crypto App for enthusiasts.
About KuCoin Labs
Since its launch in May 2018, the KuCoin investment and incubation program has brought together a group of crypto experts for in-depth market research, analysis, investment, and incubation in the crypto industry. KuCoin Labs has diversified investments into early-stage projects to help builders achieve sustainable growth and success in the decentralized world.
To find out more, visit https://www.kucoin.com/zh-hans/land/kucoinlabs.
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. Octo has since reported 3 million registered users, 25,000 daily users and $2,000,000 fundraised to date.
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