SmileCobra has reached an exclusive strategic partnership with Kingnet HK Ltd to jointly build a sustainable economic system for Web3 Games

Singaporean gaming company SmileCobra recently announced the signing of an exclusive strategic cooperation agreement with Kingnet HK Ltd

Kingnet HK Ltd will provide comprehensive technical support for game development and IP resources. Founder of SmileCobra, Cirrus, expressed that this collaboration will offer global game developers multi assistance including concept validation to product development, funding support, technical guidance, and ecological resources. The aim is to jointly build a sustainable economic system for Web3 Games.

Kingnet Network Ltd. (SZ.002517)was officially established in 2008 and is a well-known listed online game company in Asia. Kingnet have developed and operated numerous popular games including Happy Tower, Shushan Legend, MU Miracle, Legend of Blue Moon, 敢达争锋对决, World of Warships Blitz, Legend of Kings and Figure Story. The company's main business covers R&D as well as the operation and publishing of quality entertainment content, including mobile games, webgames and PC games. It also engages in the operation of webgame platforms and mobile apps distribution platforms. In addition, Kingnet is actively developing its overseas business in hopes of creating an international market through its strong R&D capacity and market development capability, thus pushing the company’s performance to the next level.

SmileCobra Studio aims to establish a new paradigm for Web3 Games. The company will adopt blockchain token economy to build and reward global community player, and work together with well-known Game Guilds, VC Incubators, Game Launchpad, etc. to build a mature Web3 Game industry chain. Cirrus said, "Our current investments and research are focused on gaming engines, graphics technology, AI, and other foundational areas. By actively collaborating with Kingnet HK Ltd and developers worldwide, we aim to drive innovative development in web3 Games. We plan to launch different types of games (RPG, PZL, SPG, CAG, MMORPG, STG. etc.) to meet the diverse needs of global players. We will launch the first 3A MMORPG Game GenLeap and several lightweight casual games."


Keep up with the latest news, trends, charts and views on crypto and DeFi with a new biweekly newsletter from The Block's Frank Chaparro

By signing-up you agree to our Terms of Service and Privacy Policy
By signing-up you agree to our Terms of Service and Privacy Policy

GenLeap is the first web3 MMORPG game that combines global traditional culture with the new AI era, creating an open world for players to freely explore and evolve.  “The first version of GenLeap beta will be officially launched in Q4, and retrospective token airdrop will be rewarded to early players," Cirrus said.

Cirrus also told The Block, "Creating a game is not difficult, the key lies in how to build a sustainable gaming economy with the global community. This is not easy, but we have the confidence and ability to become practitioners and leaders in the  Web3 Gaming field."

This post is commissioned by SmileCobra and does not serve as a testimonial or endorsement by The Block. This post is for informational purposes only and should not be relied upon as a basis for investment, tax, legal or other advice. You should conduct your own research and consult independent counsel and advisors on the matters discussed within this post. Past performance of any asset is not indicative of future results.

Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.

© 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.