Home News Animoca Brands raises $5M for Quidd NFT marketplace

Animoca Brands raises $5M for Quidd NFT marketplace

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Quidd, a digital collectibles platform and subsidiary of Animoca Brands, has raised a total of $5 million through private and pre-sales. As well as the initial DEX offering (IDO) of the QUIDD token.

The initial placement of QUIDD on decentralized exchange (DEX) took place on November 18, 2021, at the Polkastarter website. In less than an hour, 2 million QUIDDS were sold at a price of $0.25 per token, which brought in $500,000.

Earlier, the company raised $4 million from a group of investors, including Binance Smart Chain Growth Fund, Kingsway, Mind Fund Group Ltd, Genesis Block Ventures, Sanctor Capital, OneFootball and other business angels, during the QUIDD private tokesale.

The total issue will amount to 1 billion tokens

On November 3, Quidd held a pre-sale on Animoca Brands Launchpad. During which it sold 1001 vouchers for a total of $500,500 in 22 minutes. Each voucher priced at $500 can be used to redeem 2,500 QUIDD tokens after May 3, 2022.

QUIDD is an ERC-20 service token for the community of collectors, creators and developers on the Quidd platform. The total issue will amount to 1 billion tokens.

After IDO, the coin got into the PancakeSwap listing and is trading in pairs with WBNB, REVV, PROS, TOWER, LMT and BONDLY. At the time of writing, the QUIDD rate is at $3.53. Which is 1307% higher than the placement price, according to CoinGecko.

Animoca Brands

Recall that previously in October Animoca Brands attracted funding of $65 million at an estimate of $2.2 billion. Thus, investors included Tron founder Justin Sun, Liberty City Ventures, Ubisoft Entertainment; Sequoia China, Dragonfly Capital, Com2uS, Kingsway Capital, 10T Holdings and others.

Moreover, according to the brand-focused metaverse and interactive content company; the latest funding will go toward financing strategic investments and acquisitions; product development and intellectual property licenses.

In September, the company entered into a binding agreement to purchase a controlling stake in the non-fungible token (NFT) platform Bondly. Investments in Bondly will stimulate the mass implementation of NFT in Animoca Brands portfolio companies working in the fields of gaming, sports, collectibles and others. “Bondly technologies for NFT, including the exchange protocol; trading platform and interconnect bridges; will allow gamers to easily move assets from one blockchain to another,” the press release said.

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