In a strategic move to bolster its presence in the gaming sector, Animoca Brands, a prominent investor in crypto video game projects, has announced its leadership in a $7 million funding round for the gaming platform Param Labs.

Param Labs, headquartered in the United Arab Emirates, boasts a thriving online community, with an impressive reach across various platforms. The company boasts over 2.5 million followers on X across all its pages, along with a substantial Discord user base of 500,000 members. Additionally, Param Labs reports an impressive daily active user count of 300,000, highlighting the platform's widespread popularity and engagement.

The collaboration between Animoca Brands and Param Labs is driven by a shared vision to revolutionize the gaming landscape, prioritizing the empowerment of gamers as true owners of their digital assets. Yat Siu, co-founder and executive chairman of Animoca Brands, expressed enthusiasm for the partnership, emphasizing its alignment with their overarching goals. Siu further solidified his commitment by making a strategic investment in Param Labs, underscoring his confidence in the platform's potential.

Joining Animoca Brands in the investment round were reputable firms Delphi Ventures and Cypher Capital, further validating Param Labs' innovative approach and growth prospects.

Param Labs aims to establish a dynamic gaming ecosystem governed by its native PARAM token, slated for imminent launch. The PARAM token will play a pivotal role in shaping the platform's operations and fostering user engagement. Notably, Param Labs' inaugural game, "Kiraverse," represents a pioneering foray into the play-to-earn genre, offering multiplayer shooter gameplay with lucrative opportunities for players to earn rewards.

As Param Labs continues to evolve and expand its offerings, the launch of the PARAM token and the debut of "Kiraverse" signal promising developments on the horizon. With the backing of strategic investors like Animoca Brands, Param Labs is poised to make significant strides in reshaping the gaming landscape and empowering gamers worldwide.