KuCoin Advances Web3 Strategy Through Partnership With Octo

2023/03/14 09:15:45

KuCoin extends its journey into the Web3 world through its latest partnership with Octo, a play-to-earn (P2E) mobile gaming platform leader. This newest initiative from KuCoin Labs takes the company one step closer to ushering the era of decentralization into the mainstream.

Octo has established itself as a renowned decentralized mobile gaming platform, giving players several opportunities to earn rewards such as tech and apparel. Having been in the P2E space well before the term became a mainstay in the gaming industry, Octo enjoys a user base of millions of gamers worldwide.

Octo’s community-driven hypercasual P2E gaming is offered as a mobile app on Android and iOS. Merging the world of web2 and web3, the Octo App offers players rewards in the form of crypto tokens, NFTs, and real-life prizes from brand partners. The platform has over three million registered users, 25,000 daily active users, and has raised $2 million in funding to date.

Unlike most GameFi projects in an MVP or concept stage with zero track record, Octo’s app has been functioning for several years. Octo’s platform is a working app with millions of registered users, distributing rewards and cryptocurrency to players for the past several years.

Octo has entered the Web3 space with the inception of The Octos - a generative Solana-based NFT collection that was sold out instantly. The Octo App now lets token holders enjoy incentives such as earning rewards in Solana (SOL).

Future developments will also allow the app’s users to receive power-ups on in-app games, thus increasing their potential for generating passive income. Octo is also planning the launch of its native token, $OTK, which will make its Web3 services even more robust and versatile.

KuCoin’s partnership with Octo through investing in its seed round will bring them into the KuCoin Labs Incubation Program and provide strategic support to foster the platform’s development. As a strategic partner, KuCoin will also introduce Octo to more potential strategic partners and offer support for the company’s marketing campaigns.

Octo will enjoy KuCoin’s expertise in inspiring cooperation among Key Opinion leaders and creating high-impact Press Releases. Additionally, KuCoin Labs and Octo will explore a market and research partnership that will serve as a stepping stone for further collaboration, which will be especially beneficial as the company focuses on expanding into the Asian market.

The joint efforts between KuCoin and Octo are poised to serve as a key contribution toward driving the mainstream adoption of Web3 technology.

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