Sunday, May 19, 2024

Quidd, an NFT marketplace founded by Animoca Brands, has raised $5 million in funding.

Quidd is a marketplace that offers digital collectibles. It recently raised $5 million in early sales and an initial DEX offer. The sale was on Thursday on Polkastarter. The company offered 2 million tokens at $0.25/token. The sale raised $500,000 within an hour of tokens going for sale. The private sale of QUIDD tokens which is based on ethereum raised $4 million this month from several major investors. All 1001 vouchers put up for sale on Launchpad of Animoca Brands were sold out within 22 minutes. The total pre-sale value came to $500,000 at $500 cost of each voucher. The 2500 QUIDD tokens can be redeemed with these vouchers after May 3 in 2022.

A Successful IDO

Once the IDO was completed successfully, the tokens started trading on the PancakeSwap decentralized exchange platform of Binance Smart Chain. Each token’s price is $3.28, which represents more than a 1000% increase compared to the initial IDO $0.25 price. That is 31.9% lower than its all-time high price of $4.73 achieved on November 20. One billion QUIDD tokens are available for trading.

The Blockchain Gaming Advantage

Animoca Brands is a gaming software company operating in Hong Kong. It also has a venture-capital arm that covers blockchain games. Its cofounder and executive chairman Yat Siu said that these QUIDD tokens represent the evolution of digital collectibles into new digital formats. The cofounder and CEO of Quidd, Michael Bramlage, remarked that these tokens would help Quidd move forward faster in the Web 3.0 industry.

Quidd marketplace has more than 7 million users. More than 2.1 billion non-fungible artworks are put up for sale here.

Cryptured Team
Cryptured Team
The writers team at Cryptured.com is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.
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