PANews reported on October 30th that Web3 toy project Capybobo announced the completion of an $8 million funding round, led by Pluto Vision Labs, which is backed by YZi Labs and previously created CatizenAI, a platform with 63 million users. This round also saw participation from several well-known institutions, including Folius Ventures, Animoca Brands, HashKey Capital, and Mirana Ventures.

Capybobo stated that the funds will be used to accelerate the development of its online doll clothing (PYBOBO Outfits), build a global toy trading platform, and promote its brand in the European and Asian markets. Capybobo is a GameFi project within the TON and Kaia ecosystem, focusing on bringing global toy art and culture to Web3 and creating toy IPs that blend the virtual and real worlds.