KBW Ventures leads PlaysOut's $7 million Seed round
UAE-based gametech PlaysOut has raised $7 million in a seed funding round at a $70 million valuation from investors, including OKX Ventures, KBW Ventures, and Pacific Century Group.
Founded in 2024 by Jassem Osseiran and Jimmie Jeremejev, PlaysOut provides platforms with a mini-games engine, and an SDK, which helps them access a library of engaging mini-games.
The funds will be used in three directions: expanding the mini-game ecosystem, establishing strategic partnerships, and exploring high-growth markets such as the US, MENA and Asia.
PlaysOut, a mini-game platform, has successfully secured $7 million in seed funding. The round was led by OKX Ventures, with additional participation from kbw Ventures and pacific century Group. This funding will be instrumental in expanding PlaysOut's mini-game ecosystem, fostering strategic partnerships, and enhancing its market presence.
PlaysOut is designed to assist developers in releasing mini-games on popular platforms such as Telegram, Discord, and YouTube. The platform integrates blockchain features and infrastructure, providing a seamless experience for developers and users alike. One of the key developments for PlaysOut is the upcoming launch of its embedded SDK in May, which is expected to further streamline the process of integrating mini-games with blockchain technology.
The participation of OKX Ventures, a prominent venture capital firm, underscores the growing interest in the mini-game sector and the potential of blockchain technology in enhancing gaming experiences. OKX Ventures' involvement suggests a strategic alignment with PlaysOut's vision of creating a robust mini-game ecosystem that leverages blockchain for added functionality and security.
KBW Ventures and Pacific Century Group, both known for their investments in innovative technologies, also bring valuable expertise and resources to the table. Their support will likely contribute to PlaysOut's ability to scale its operations and attract more developers to its platform. The funding will be used to expand the mini-game ecosystem, ensuring that PlaysOut can offer a diverse range of games and features to its users.
Strategic partnerships are another area where PlaysOut aims to make significant strides. By collaborating with key players in the gaming and blockchain industries, PlaysOut can enhance its offerings and reach a broader audience. These partnerships will not only help in expanding the platform's user base but also in creating a more dynamic and engaging mini-game experience.
Overall, the $7 million seed funding round is a significant milestone for PlaysOut. It positions the platform for growth and innovation in the mini-game sector, leveraging blockchain technology to create a unique and engaging experience for developers and users. With the support of OKX Ventures, KBW Ventures, and Pacific Century Group, PlaysOut is well-equipped to achieve its goals and establish itself as a leader in the mini-game industry.
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