KuCoin Ventures, the investment arm of the prominent KuCoin exchange, has strategically invested in Crystal Fun, a rising developer in the blockchain gaming arena. Announced on February 20, this investment reflects KuCoin’s strong belief in the disruptive potential of web3 gaming to redefine the entertainment industry.
The investment, part of a notable $5 million seed funding round, not only highlights KuCoin Ventures’ role but also draws attention from other significant investors such as Actoz Soft, Waterdrip Capital, and ælf Blockchain. This pooled investment underscores the burgeoning confidence in the pivotal role blockchain technology is poised to play in gaming.
Crystal Fun, benefiting from this strategic financial infusion, has already distinguished itself with the development of four blockchain games: Endless War, STARFALL2312, Survivor, and OUTER, with the latter achieving a successful first phase of testing. The investment’s precise deployment remains to be detailed, but it is expected to empower Crystal Fun’s continued ambition to roll out new gaming titles across the year on its proprietary gaming platform.
Lou Yu, leading KuCoin Ventures, expressed vibrant enthusiasm for the investment, viewing it as a marker of their dedication to driving forward innovation within the blockchain space. He highlighted the excitement of contributing to the gaming industry’s next transformative phase, evidencing a crucial moment at the confluence of blockchain technology and digital entertainment.
This recent investment into Crystal Fun marks KuCoin Ventures’ second significant strategic investment in February, following their financial involvement with Ta-da, a platform aimed at collecting and verifying data for training artificial intelligence. The financial details concerning the Ta-da investment remain under wraps.