Gaming • July 23, 2024, 3:10PM EDT
Published 1 minute earlier on
Quick Take
- Telegram CEO Pavel Durov said Catizen, the tap-to-earn crypto game built on TON blockchain, has “earned” $16 million from in-app purchases.
Telegram CEO Pavel Durov took to his messaging app to announce the tap-to-earn crypto game Catizen has "earned" $16 million from in-app purchases. "Catizen is a mini game on Telegram with over 26 million players. The game has already earned $16 million from in-app purchases and donated 1% of it to rescue stray cats," Durov posted on Tuesday. Durov said on Monday that Telegram now has approximately 950 million users worldwide. Pluto Studio is the publisher of the Telegram game Catizen which, like other similar titles accessible through the Telegram app, such as Hamster Kombat, is built on The Open Network (or TON) blockchain. Binance Labs has backed the company, The Block reported earlier Tuesday. "Catizen introduced millions of people to blockchain, because it uses TON-based smart contracts for its in-game rewards," Durov said. "Their team also built tools for other developers to easily launch their games on Telegram and TON." Ricky Wong, co-founder of Pluto Studio, told The Block the average revenue per user has increased to $30.7 per paying user this week. Simple tap-to-earn games like Notcoin, Yescoin, Hamster Kombat and Catizen have been amassing tens of millions of users in recent months. Both Catizen and Hamster Kombat are expected to launch tokens soon. Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures. © 2024 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
About Author
RT Watson is a senior reporter at The Block who covers a wide array of topics including U.S.-based companies, blockchain gaming and NFTs. Formerly covered entertainment at The Wall Street Journal, where he wrote about Disney, Netflix, Warner Bros. and the creator economy while focusing primarily on technological disruption across media. Previous to that he covered corporate, economic and political news in Brazil while at Bloomberg. RT has interviewed a diverse cast of characters including CEOs, media moguls, top influencers, politicians, blue-collar workers, drug traffickers and convicted criminals. Holds a master's degree in Digital Sociology.
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