Quidd, a digital collectibles marketplace and subsidiary of Animoca Brands, has raised a combined $5 million through a private presale and initial DEX offering (IDO).
On November 18, the token sale took place at Polkastarter, the Polkadot project incubator. The 2 million QUIDD tokens allocated at $0.25/token sold out within an hour, raising $500,000.
Earlier this month, a private sale of the ethereum-based QUIDD token raised $4 million, with investors including Binance Smart Chain Growth Fund, Genesis Block Ventures, Kingsway, Mind Fund Group Ltd, Sanctor Capital, OneFootball and other angels investor.
During the pre-sale on Animoca Brands Launchpad on November 3, 1001 vouchers were sold out in 22 minutes. Each voucher is priced at around $500, bringing the total value of the pre-sale to $500,000. These vouchers are redeemable for 2,500 QUIDD tokens after May 3, 2022.
Following the successful IDO, the token is tradable on the Binance Smart Chain decentralized exchange platform PancakeSwap. The tokens are currently tradeable for WBNB, as well as some Animoca-owned tokens, including Tower (TOWER), REVV (REVV), Lympo Market Token (LMT), Prosper (PROS), and Bondly (BONDLY).
As of this writing, the price of QUIDD is $3.28, a 1212% increase from the $0.25 IDO price. The token is down 31.9 percent from its all-time high of $4.73 on Nov. 20, with a total supply of 1 billion coins.
Quidd is the first marketplace built for buying and selling limited-edition, personal-series digital collectibles. QUIDD is an ERC-20 utility token for collectors, creators and developers of the QUIDD community.
— Animoca Brands (@animocabrands) November 19, 2021
Animoca Brands is a Hong Kong-based gaming software company and venture capital firm specializing in blockchain games.
Yat Siu, the company’s executive chairman and co-founder, said the QUIDD token represents “the evolution of collectibles into a digital format.”
Quidd CEO and co-founder Michael Bramlage added that the token marks Quidd’s move into the web 3.0 world.
“The early collectibles market was talking about getting users to buy and sell. The QUIDD token helps us build a community of the future.”
The Quidd marketplace has 7 million users and more than 2.1 billion non-homogeneous artworks for sale.
In a statement shared with Cointelegraph, Quidd described its marketplace as "chain-independent," noting that the token "will give buyers and collectors the option to mint their collectibles on their preferred network, such as ether." Square, WAX and Flow.”
The QUIDD token also gives holders voting rights in using Quidd's content and licensing budgets.
On Oct. 21, Animoca raised $65 million by issuing more than 43.8 million new shares at $1.51 each.
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