Alpari and FXTM owner Exinity has invested $10m in a trading and crypto gaming start up called PiP World.
The company makes different video game style products that are related to trading and investing.
One of these is a Roblox game called StockRise. PiP World acquired StockRise earlier this year. The game is basically a virtual investing app within Roblox.
After the acquisition, PiP World said it would fit the game into its wider ‘play to earn’ model.
Aside from this, the company has launched an app within Telegram called Gold Rush. The concept here is quite similar. You play a virtual character who is doing something akin to running a hedge fund and can level up by making investments and acquiring different items, like a trading desk or fancy suit.
PiP World also says on its website that it’s going to launch another trading game this quarter called PiP Trader, an education app called PiP Academy, and a game called $PiPs Airdrop.
Company Founder and CEO Saad Naja previously held roles at gambling company Paddy Power Betfair and was a Head of Product at GAIN Capital – the owner of Forex.com and City Index. More recently he spent over five years at crypto firm Kraken. He has also been an Executive Board Member at Exinity since 2022.
“We are excited to join forces with Exinity as we advance our mission to transform the way people learn about financial markets,” said Naja.
“This investment will enable us to expand our offerings and reach more users globally, particularly in the emerging markets where financial tools and knowledge are scarce. Our goal is to empower individuals with the financial knowledge and skills necessary to navigate the complexities of today’s economy and financial markets, and this partnership with Exinity brings us one step closer to achieving that vision.”