Web3 toy project Capybobo raises $8 million in funding.

Recently, Capybobo, a rising Web3 collectible toy project, officially announced the completion of an $8 million funding round. This round was led by Pluto Vision Labs, backed by the renowned incubator YZi Labs and the company behind the hit blockchain game CatizenAI with over 63 million users.

Pluto has extensive experience and industry influence in the integration of gaming and Web3. In addition to the lead investor, this round also attracted participation from several leading crypto investment institutions, including Folius Ventures, Animoca Brands, HashKey Capital, and Mirana Ventures, demonstrating market confidence in Capybobo's future prospects.

Capybobo stated that the funds raised will be primarily used for three areas: accelerating the development and iteration of its online doll clothing line, "PYBOBO Outfits"; building a global digital collectible toy trading platform; and comprehensively advancing brand building and user expansion in the European and Asian markets.

As a highly anticipated GameFi project within the TON and Kaia ecosystem, Capybobo is dedicated to introducing global collectible toy art and culture into the Web3 world. Through interactive experiences that blend the virtual and real worlds and immersive IP operations, it aims to create a sustainable cross-media collectible toy ecosystem.

Against the backdrop of a continuously heating global collectible toy market and the increasingly close integration of digital collectibles and physical derivatives, Capybobo not only focuses on the innovation of virtual content but also emphasizes the real-world implementation and extension of its IPs, striving to bring users a new consumption model that combines collectible value, interactive experiences, and a sense of community.

The successful completion of this financing marks a crucial step forward for Capybobo in its technology, product, and ecosystem development, and also provides a new approach for the industry to explore a dual-track IP model driven by both virtual and real-world factors.