Premier cryptocurrency exchanges, including ByBit, Gate.io, BitGet, and MEXC, have recently listed Param Labs’ PARAM token. This development follows a successful staking campaign on ByBit’s launchpool.
During the campaign, ByBit offered $20 million in USDC prizes, distributing 600,000 PARAM tokens within the community through a stake-and-earn competition that boasted an impressive 960% APR. Gate.io also participated, announcing a Web3 startup token airdrop that included 40,000 PARAM tokens.
Now, PARAM tokens are available for spot trading against USDC and USDT on these platforms.
Param Labs has also announced strategic partnerships with major eSports organizations like LoudGG and Chronic, adding to an already impressive portfolio that includes collaborations with brands such as GameStop and web3 leaders like Immutable X and Pudgy Penguins.
The company recently secured significant funding through seed and private rounds, led by notable firms such as Animoca Brands, Delphi Ventures, Cypher Capital, P2 Ventures, Mechanism Capital, Merit Circle, TRGC Capital, Double Peak Group, and MH Ventures. Param Labs’ ecosystem, governed by the PARAM token, aims to revolutionize traditional game development.
Key web3 personalities, including Ivan On Tech, Dingaling, and Sebastian Borget, co-founder and COO of The Sandbox, have made strategic investments in Param Labs. Notably, FaZe Clan CEO FaZe Banks is also an investor.
Param Labs, an independent game development studio based in the UAE, is led by co-founder and CEO Anthony Anderson. The company recently welcomed Activision Blizzard VP of consumer products Steve Young to its board. The team, experienced with companies like Activision, Epic, EA, and Ubisoft, has achieved over $40 million in EBITDA revenue and focuses on Web3 game and infrastructure development.
The introduction of the PARAM token is a key part of Param Labs’ vision to unlock new possibilities within its gaming and entertainment ecosystem. ByBit praised the listing, stating, “ByBit is extremely proud of yet another great project coming to our spot trading platform. PARAM and Param Labs represent a bold new frontier in gaming infrastructure.”
In the past year, Param Labs has generated over $4 million in revenue through its Pixel-to-Poly service and NFT sales. The company’s flagship game, Kiraverse, is available on Windows PC and has attracted over 2 million registered users and 300,000+ daily active users.
