Coin98 Labs Acquires CyBall: The next chapter

We are overwhelmingly excited to announce that Coin98 will be acquiring CyBall.

We have been conducting discussions with Thanh and the Coin98 team about the potential of web3 gaming and its importance as a sector that not only defines the essence of crypto, but also in being a crucial vehicle to guide mainstream adoption. CyBall is one of the pioneers that helped introduce the web3 gaming sector to the world, during the GameFi summer of 2021/2022. CyBall had an incredibly successful launch, and at our peak, we had over 20,000 DAUs, however, we had also faced the same challenges that threatened the rest of the market.

After a couple of tumultuous weeks surrounding the demise of FTX and the contagion that followed, the sector has had its greatest challenge to overcome, but without a doubt the space will continue to flourish. CyBall was affected by the FTX debacle that had thrown a spanner in the works and changed our plans for the future of the game and its development. We discussed this thoroughly with Thanh, the founder of Coin98, and came to the conclusion that with Coin98’s acquisition of CyBall, there will be an injection of fresh funding for further development and realization of the original CyBall vision, with some Coin98 spice.

Coin98 has recently acquired Yunero Studios to bolster their expansive Coin98 labs team, and to build out a gaming development unit. It is serendipitous for Coin98 to acquire CyBall, with their newly formed gaming unit who are equipped with resources and funding to take CyBall into a new era. We look forward to working with Coin98 to transition CyBall as one of the projects that Yunero Studios will incubate. The core team of CyBall will remain intact and transition into a working relationship with Yunero studio to build CyBall and deliver it into the future.

To address a previous announcement that was made earlier last week, with the intent of the launch of our highly anticipated governance token $CYB on the 10th of December, this will now be delayed to allow for a smooth transition and for the Coin98 team to catch up to speed with CyBall. With this acquisition, Coin98 will lead the launch of $CYB at a later date. All investments made by previous investors will remain. CyBall users will continue to have uninterrupted service to CyBall’s products.