UAE-based gaming startup PlaysOut secured USD 7 mn in a seed funding round led by OKX Ventures, with participation from the Saudi Prince Khalid bin Alwaleed bin Talal Al Saud’s KBW Ventures and Asia-based Pacific Century Group as well, Wamda reports.

The next steps: The USD 7 mn raised is set to help PlaysOut expand its mini-game ecosystem, establish strategic partnerships, and explore markets like the US, Asia, and the Mena region. It is also set to release its embedded software development kit (SDK) in May. The participation from KBW Ventures and Pacific Century Group will help PlaysOut scale its operations and attract more developers.

About PlaysOut: Valued at USD 70 mn by investors during the round, PlaysOut helps developers release mini games on platforms including Telegram, Discord, and YouTube, using blockchain technology and infrastructure.

ALSO FROM PLANET STARTUP-

UAE-based Oro Labs raised USD 1.5 mn in a pre-seed funding round, it said in a press release. The funding round was led by 468 Capital, with participation from Fasset, and from angel investors from Solana projects.

Oro Labs is a tokenized gold platform which lets users trade gold-backed assets across financial markets. It signed an MoU with the ADGM last month on its commitment “to expanding tokenized gold adoption across the UAE and beyond.”

Looking ahead: The startup is looking to boost its product offering and become more integrated in both decentralized and traditional finance. It is also looking to introduce new financial applications for gold trading and is set to partner with its strategic investorFasset to expand tokenized gold adoption in the UAE, Malaysia, Bahrain, Indonesia, and Turkey.

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