Aavegotchi

Pixelcraft Studios, the developers of the popular metaverse game Aavegotchi, <a href="https://www.prnewswire.com/news-releases/developers-of-nft-gaming-metaverse-raise-30m-from-community-and-players-in-worlds-longest-token-sale-301776390.html" rel="noopener noreferrer nofollow">announced</a> on Monday that it successfully raised $30 million in a multiyear token sale. However, this is being hailed as one of the largest Web3 gaming sector fundraisers this year without any venture capital or investor participation. Of this amount, Pixelcraft will receive 25%, or $7.5 million, while the remaining amount of $22.5 million will go to AavegotchiDAO’s decentralized autonomous organization (DAO) treasury.In a press release, Coder Dan, co-founder, and CEO of Pixelcraft Studios said: “The successful conclusion of this sale is monumental for the decentralized fundraising space, and we hope that it sets a precedent for responsible fundraising by future projects. We are extremely grateful to have such an enthusiastic and passionate community behind us and are excited about the potential of AavegotchiDAO receiving the majority of this raise.”Pixelcraft Studios launched the sale of its native Aavegotchi token, GHST, in September 2020. Using a decentralized funding mechanism created by <a href="https://www.cryptopolitan.com/news/ethereum-eth/" rel="noopener noreferrer nofollow">Ethereum</a> founder Vitalik Buterin, users could deposit the stablecoin DAI into a smart contract to earn GHST before the token sale’s conclusion. However, due to the depegging of DAI in March following the collapse of Silicon Valley Bank, the community decided to end the token sale early out of concern for potential instability.Aavegotchi is a decentralized Web3 ecosystem that utilizes non-fungible tokens (<a href="https://www.cryptopolitan.com/news/nft/" rel="noopener noreferrer nofollow">NFT</a>) and <a href="https://www.cryptopolitan.com/news/defi/" rel="noopener noreferrer nofollow">DeFi</a> protocols. Recently, its users voted to expand their wearable offerings within the game, allowing them to customize their digital pets further.<ul><li>Aavegotchi, announced on Monday that it successfully raised $30 million in a multiyear token sale.</li><li>Pixelcraft will receive 25%, or $7.5 million, while the remaining amount of $22.5 million will go to AavegotchiDAO’s decentralized autonomous organization (DAO) treasury.</li></ul>

Aavegotchi creators make history with epic multiyear token sale

Cryptopolitan_News

Other articles published on Mar 21, 2023

PrimeXBT Copy Traders Make 4,000% ROI

Divergent On-chain Trends Within Ethereum/Bitcoin Network Add to Reasons Why the ETH/BTC Price Mi...

VSB for dsync

CMC Catalyst Conference: Community Event!

With Signature Bank entering liquidation, the loss of its Signet platform is bad news for crypto

Ethereum Price Grinds Lower and Turns At Risk of A Larger Decline

Join our free newsletter for daily crypto updates!