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Binance Labs invest in South Korea gaming firm


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Today, in a blog post, Binance Labs announced its investment in a blockchain casual game developer, GOMBLE. According to the announcement, the venture capital arm of the largest crypto exchange by trading volume said it invested in the seed funding round of the South Korea-based startup.

Furthermore, the investment will aid GOMBLE to develop and release its inaugural mobile game; RumbyStars. By the second quarter of 2023, the firm will release the game as a mobile soft launch in Southeast Asian markets. Thereafter, the unveiling will be extended to other regions like East Asia, Europe, South, and North America.

Also, the firm will focus on enhancing its gaming platform by employing a game-as-a-service (GaaS) model. Through its social architecture and Gaas platform, GOMBLE will aid existing NFT and GameFi projects to join the RumbyStars. By this virtue, these projects will be able to create customized NFTs and games.

The latest financial intervention from Binance Labs will offer GOMBLE a pathway to bring its Casual Gaming to the Web3 space. Casual Games are distinctive base on their user-friendly interface and enjoyable Gameplay. They do not require players to have high game skills before playing.

However, in the Web3 space, Casual games haven’t gained much ground. There are emerging pointers that in the nearest future it will enjoy significant growth. As it is, GOMBLE will push to bring its Web2 gaming ideology into the Web3 sphere.

To achieve that, the firm will leverage the funds from Binance Labs to initiate balanced tokenomics and sustainable governance. Within the GOMBLE gaming ecosystem, users stand a chance to earn a governance token, CRT. Consequently, gamers can utilize the token to acquire NFT, in-game items, and tournament pass.

Reactions to the Investment by Binance Labs

Meanwhile, the investment will see Binance attempt to become a force to reckon with in the casual games sector. The sector is projected to hit a $24.97 billion market volume by 2027. The latest effort has garnered reactions from top executives from Binance Labs and GOMBLE.

Head of Binance Labs, Yi He revealed that Blockchain games must shift away from the concept of earning. The executive emphasized the need to focus on gaming content that attracts gamers. Likewise, Yi He divulged that GOMBLE is moving in that direction. Thus, giving Binance Labs enough conviction to invest in the firm.

Additionally, CEO of GOMBLE, Jihoon Byun revealed how the firm is aiming to change the existing narrative. The firm will focus on entering the global market with easy and fun casual games.

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David Idowu
David Idowu
David Idowu is a crypto reporter and trader with wealthy years of experience. He believes that blockchain technology has numerous opportunities that are begging for proper utilization. Away from work, David is either reading about World Politics, History or Tech Innovations.

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