June 09, 2022 06:00 AM Eastern Daylight Time
VICTORIA, Seychelles–(BUSINESS WIRE)–KuCoin Labs, the investment and research force of the KuCoin ecosystem, announced on June 9 that it had led an investment in the Superpower Squad game. Other investors involved in this private round include EVG and Ankr. The valuation of Superpower Squad is at $50 million, and the game’s development of completion and high playability is rare in the current GameFi market. The game’s beta version on the Android platform is now supported for its users, and the IOS version will be launched soon.
Superpower Squad is a superhero-themed, third-person shooter game with a team of more than 60 people. Its product managers from the traditional game industry with more than ten years of game production experience indicate that in the passing era of GameFi 1.0, users sense the possibilities of traditional cryptocurrency. The team also believes that the GameFi 2.0 era is coming, and the requirement for playability and professionalism will gradually increase. This helps players form the identity of the culture and entertainment in the game-gain value from the game itself. On top of this, only earning revenue through Web3 can encourage GameFi products to thrive, which will be an advantage for teams who have played games for years.
In addition, in the design of the economic model, Superpower Squad is deeply combined with the gameplay mode to make the economic system consistently serve the excellent game experience. The game includes MOBA, RPG, Roguelike, social chatting features and ranking system, and other game modes such as PVP and PVE and has a wealth of assets such as heroes, weapons, and skins. The goal is to maximize the player’s interaction with the game system, increase in-game consumption, and stabilize the economy. Based on years of experience in the traditional industry, the game is also good in terms of graphics and operational experience. In addition, there is a fantastic UGC tool, “Metacube”, that players can create their own gameplay through it and create NFT to share or sell for profit.
Superpower Squad indicates the funding will be used for subsequent development of the game’s advanced play modes and the desktop version, as well as to expand its impact in GameFi. “The trust from prominent investors, including KuCoin Labs, EVG, and Ankr, solidifies our vision that one day MOBA Esport games will flourish on the blockchain,” Superpower Squad Representative, Olivia Hedin, said in a statement. “Superpower Squad is a competitive game in all genres, and we believe these new investors and partners will help make Superpower Squad delegates of the blockchain Esport.”
As for the possibilities of Superpower Squad breaking through impression on the market, a superhero theme might reach the anticipation of starting GameFi 2.0.
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 18 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 2021. In 2022, The Ascent named KuCoin the Best Crypto App for enthusiasts.
About KuCoin Labs
Since launched 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.
About Superpower Squad
Superpower Squad is a superhero-themed, third-person shooter game with a team of more than sixty people. The game includes MOBA, RPG, Roguelike, social chatting features and ranking system, and other game modes such as PVP and PVE and has a wealth of assets such as heroes, weapons, and skins.