Crypto venture capital arm of HashKey has announced its strategic investment in Pluto Studio, the publishing platform behind Telegram-based game Catizen.AI.

HashKey Capital, the venture capital branch of Hong Kong-based crypto company HashKey, has supported Pluto Studio, the publishing platform behind the Telegram-based game Catizen.AI, with a “strategic investment” in a bid to deeper its presence in the gamefi sector.

In a Jul. 30 press release, the Hong Kong-headquartered VC firm said that following the funding, HashKey Group will also be announcing a “coming up partnership with Catizen to further amplify the awareness of TON Mini-Game,” though specific details regarding the investment amount and the nature of the partnership weren’t disclosed.

As per HashKey Capital, Catizen has built a base of “over 500,000 paying users,” adding that this cohort sets the project “apart from other mini-apps” in the TON (TON) ecosystem.

“With Pluto Studio planning to launch over 18 additional games, this robust user base holds significant potential for future growth.”

HashKey Capital

The proceeds from the funding are said to be used to advance the mini-game platform, enhance future projects, and co-develop the ecosystem. HashKey Capital will also support Pluto Studio in exploring “the potential for a mini-game revolution within the TON ecosystem,” the press release reads.

The funding announcement arrives despite ongoing uncertainty surrounding the airdrop of Catizen.AI’s native token, CATI. Initially slated for a July release, the airdrop has been delayed. On July 29, Catizen.AI’s official X addressed the delay, saying “there are aspects that are not entirely under our control,” without providing further details on the reasons or new timing for the airdrop.

Catizen.AI is not alone in facing scrutiny over delayed token launches. Another Telegram-based project, Tapswap, has also delayed its token release multiple times, with the latest update pushing the launch to Q3. Hamster Kombat, yet another Telegram-based mini-app, has faced similar challenges.

Hamster Kombat, another Telegram-based mini-app, has yet to announce its token launch date. Although several crypto exchanges have added the HMSTR token for pre-market trading, it hasn’t been officially listed. In Russia, where the Hamster Kombat development team is rumored to have potential ties, lawmakers have even proposed to ban the app due to concerns about possible scams.