Arcade, GameFi’s infrastructure platform, has announced a strategic partnership with KuCoin Labs to expand the fledgling ecosystem.
The announcement was made on March 17th, where Arcade will accelerate the massive adoption of GameFi. The launchpad is a combination of gaming and finance, which takes play-to-win and pay-to-play models a step further with play-to-earn (P2E), which is rapidly gaining traction worldwide.
Arcade Accelerates GameFi With KuCoin Labs Partnership
Arcade has been described as the foundational layer, or infrastructure, on top of which Metaverse P2E ecosystems will operate. Furthermore, it comprises four main groups; gamers, guilds, developers, and earners.
We are proud to announce our partnership with @KCLabsOfficial.🔥
KuCoin Labs’ thesis… resonates with Arcade’s mission of bringing GameFi to everyone.🤜https://t.co/RsKLVhAEPO#Arcade #KuCoin #GameFi 🚀
— Arcade 👾 | It Pays To Play (@arcade2earn) March 16, 2022
According to the announcement, the guild part of the organization allows players and other guilds to borrow NFTs owned by Arcade to generate yields in the Metaverse. Players interact with the platform using its native token, ARCADE.
More About Kucoin-Arcade Partnership
Arcade will leverage KuCoin’s technology to create services and access for those wanting to enter the GameFi ecosystem. KuCoin Labs is an investment and research division of KuCoin, Seychelles headquartered crypto exchange.
Also, KuCoin Labs offers expertise in a wide range of industry-related sectors. These include market research, analysis, investment, early-stage development, blockchain technology, ecosystem consulting, and token economy design. Moreover, Arcade will be tapping into their knowledge on play-to-earn gaming and its role in the Metaverse.
Additionally, KuCoin Labs has already made several partnerships in the GameFi space. These include League of Ancients, SolChicks, Bloktopia, Galaxy Fight Club, Solace, Cryowar, Starly, and Metastrike.
👀 KuCoin Labs Portfolio @KCLabsOfficial pic.twitter.com/uKsuYjoIAg
— KUCOIN (@kucoincom) March 16, 2022
Furthermore, Arcade partnered with Solana Ventures earlier this month to accelerate P2E gaming in the Solana ecosystem.
ARCADE & KCS Price Outlook
ARCADE, the native token Arcade, has not moved much over the past 24 hours. It is currently trading at $0.0068 at the time of writing. The price has dropped 39% over the past fortnight and is down a similar amount from their March 3rd all-time high of $0.0116.
On the other hand, KuCoin’s native token, KCS, is also trading flat on the day at just $18.13. Furthermore, KCS has declined 37% from its December 1 peak of $28.83. Nowadays, its marketcap is $1.3 billion with a 24-hour trading volume of $4 million.
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