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Ruby Play Network is pleased to announce that CEX-offshoot Gate Labs has today officially backed the project, with an investment to be made directly by the exchange into the $RUBY token and blockchain gaming platform.
Talks between both parties have proven to be successful with the confirmation of the investment being made earlier.
With this investment and the upcoming $RUBY release on the exchange, the exciting growth of the Ruby Play Network continues in the new year.
Gate Labs joins a plethora of industry-renowned backers of the Ruby Play Network, including the Binance Accelerator fund, Yellow.org and Coinpresso who have all provided financial backing during initial seed and strategic rounds respectively.
Securing substantial investment from experts
The addition of funding from Gate Labs sees the Ruby Play Network expand its backers further, prior to the planned listing of the token due to take place in late Q1 2022.
Substantiating a relationship with Gate was at the top of the agenda for the RPN team, with a listing via the Gate Labs startup proposition being planned around the listing event.
Plenty of projects list with Gate, however getting investment from them is a showing of confidence from the exchange directly.
The investment details including amount and legalities are undisclosed, with both parties agreeing on the terms entailed and the future that both the funding – and the wider relationship – could potentially bring.
The exchange and market-making behemoths have pledged substantial support during initial rounds respectively, with Gate adding to the top-tier support being displayed for Ruby Play Network.
“Gate Labs is another top-line partner for the Ruby Play Network. We have long admired their leadership in the industry and are happy to welcome their support to our project.” –
Benjamin Dellaca – CEO
Each backer of the Ruby Play Network has an industry-specific skill set that can be brought to the platform, not just the raising of capital.
The platform now has active partnerships with two exchanges, a market maker and a crypto marketing agency – Coinpresso – to further the reach of the project, in addition to the accessibility of the token through listings.
The Ruby Token Listing Strategy
The $RUBY token will be listed with multiple exchanges in Q1 of 2022, with the supply having been created first and held under smart contract within the Ruby treasury.
In contrast to other tokenomics models that see the token available for trading upon launch, RUBY is seeing its utility established first – prior to any IDO.
Ruby Play Network as a blockchain gaming system is already fully-fledged, with users already receiving rewards on multiple partner games, including RubySweeper and Spin2Win.
These games ultimately take pre-existing game concepts but incorporate them onto the blockchain. Users can currently win free RUBYs every day, just by playing these play-to-earn favorites.
This allows the number of active wallets to grow prior to the token listing, whilst establishing the utility that will underpin the network and the users that play on it – first and foremost.
Gate.io listing the token will play a part in the overall Ruby Play Network strategy, with other exchanges to follow suit and conversations already at advanced stages on multiple fronts.
Major plans and growth events for the community and the active user base are planned in the lead up to the listing event.
Next Steps for Ruby Play Network
It’s full steam ahead for RUBY, as the platform itself undergoes extensive development from both front-end and back-end perspectives over the coming weeks.
The networks’ website, where current and future games are housed has been refreshed and rebranded, with a new UX and page design rolled out across all pages.
The changes and improvements won’t just be aesthetic, with the addition of two more games set to provide users more reasons to stay engaged with the platform.
Strawberry Sweeps and PuriPets are set to further add to the gaming options on-site, taking the project to 4 crypto-based games from the outset of its development.
Strawberry Sweeps is a sweepstake-based social casino game where players can win real money, and PuriPets has an actual gaming environment where users can search plots of land to find pets.
In addition to a highly innovative rewards system, paid in RUBY, the proposition looks set for a bright future within the blockchain gaming vertical.