HashKey Group Teams Up with Telegram Tap-to-Earn Game Catizen to Build GameFi Products

HashKey Group, a leading digital asset financial services provider in Asia, has partnered with Catizen, a Telegram Mini App, marking the group’s first foray into the Web3 space.

As part of the collaboration, the duo would leverage The Open Network (TON) ecosystem to develop gaming finance (GameFi) products and global digital entertainment infrastructure.

In a Monday press release, HashKey Global, the licensed exchange under HashKey Group, said it will offer Catizen users access to regulatory-compliant and reliable digital asset services.

TON Continues to Grow Rapidly

The partnership comes amid the growing importance of the TON ecosystem, which has seen rapid development and increased interest from developers in recent quarters.

“In the last one or two quarters, we’ve witnessed a substantial increase in the number of developers on the TON blockchain, signaling a prosperous period for the ecosystem,” Ben El-Baz, Managing Director of HashKey Global, said.

He added that the presence of experienced teams working on projects in decentralized finance (DeFi) and games like Catizen was a key factor in HashKey’s decision to collaborate.

📢 We are thrilled to announce our partnership with @CatizenAI as our first Web3 partner! 🌐

And this is just the beginning—stay tuned for more collaborations between HashKey Global and Catizen! 🐶🐱

Read more 👉 https://t.co/V2fZJJo3Md pic.twitter.com/S6BJMmATYq

— HashKey Global (@HashKey_Global) August 19, 2024

Tim Wong, Chairman of the Catizen Foundation, addressed the challenges faced by GameFi and the broader Web3 gaming sector.

He pointed out that the issue of game longevity affects both Web3 and traditional Web2 games, with many games experiencing short lifecycles.

Wong stressed the importance of robust data tracking systems to measure user engagement and inform strategic decisions.

“It is crucial for third-party platforms to track on-chain interactions and users within Catizen,” Wong noted, adding that Catizen currently boasts over 120 million daily active users.

The partnership comes as TON Ventures, a newly launched venture capital firm, announced a $40 million fund to support early-stage crypto projects within the TON ecosystem.

The fund aims to connect investors with builders to drive growth and innovation across the TON blockchain.

TON Blockchain Teams Up with Pyth Network

Last week, TON announced a partnership with decentralized data oracle Pyth Network to enhance data delivery for developers building on the TON blockchain.

The collaboration aims to integrate Pyth’s advanced oracle data feeds, providing TON developers with the tools they need to create innovative decentralized applications (DApps).

Pyth’s pull oracle technology is particularly notable for its ability to deliver real-time, institutional-quality price data, a crucial component for building robust decentralized finance (DeFi) applications on TON.

In addition to this partnership, TON recently integrated with IntoTheBlock (ITB), an onchain analytics and DeFi services provider.

Back in June, Telegram launched a new digital payment feature dubbed “Telegram Stars,” allowing users to make in-app purchases.

The ‘Stars’ is compatible with both iOS and Android devices.

The move comes with the recent surge in Telegram’s mini apps with millions of users joining every day.

One of the mini apps that have been gaining traction recently, mostly on Telegram is Hamster Kombat.

In this simulator game, players can increase their exchange income by buying “upgrade cards,” and completing quests.