Animoca’s Quidd Raises $5M In Private Pre-Sales And IDO



Animoca Brands’ Quidd has raised a total of $5 million in private pre-sales and an initial DEX offering (IDO).


It has been reported that the token sale took place on Polkadot project incubator Polkastarter last week. The allotment of 2 million QUIDD tokens at a price of U$0.25 per token sold out in under an hour, raising $500,000.


However, earlier this month, the private sale of the Ethereum-based QUIDD tokens raised $4 million from investors including Binance Smart Chain Growth Fund, Genesis Block Ventures, Kingsway, Mind Fund Group Ltd, Sanctor Capital, OneFootball, and other angel investors.


The report said that during the November 3 pre-sale on the Animoca Brands’ Launchpad, 1,001 vouchers sold out in 22 minutes. Each voucher cost around $500, bringing the total value of the pre-sale to $500,000. The vouchers can be used to redeem 2,500 QUIDD tokens after May 3, 2022.


Likewise, after its successful IDO, the token was made available for trading on the Binance Smart Chain decentralized exchange platform, PancakeSwap. The tokens can currently be traded for Wrapped BNB (WBNB), and a number of Animoca-owned tokens including Tower (TOWER), REVV (REVV), Lympo Market Token (LMT), Prosper (PROS), and Bondly (BONDLY).


Animoca Brands stated:

“Quidd is the first marketplace built for buying and selling limited-edition, individually serialized digital collectibles. The QUIDD token is the ERC-20 utility token for the Quidd community of collectors, creators, and developers.

Yat Siu, the Executive Chairman and Co-founder of the firm, said that the QUIDD token represents the “evolution of collectibles into digital formats.”


Michael Bramlage, the CEO and co-founder of Quidd, said that the token marks Quidd’s movement towards the world of Web 3.0.


He added:

“Older collectibles markets talk about acquiring users to buy and sell. The QUIDD token helps us build a community of the future.”

Moreover, the Quidd marketplace has 7 million users and over 2.1 billion pieces of nonfungible artworks for sale. Quidd described its marketplace as “chain-agnostic,” noting that the token “will give buyers and collectors the choice to mint their collectibles on their preferred networks, such as Ethereum, WAX, and Flow.”

The QUIDD tokens also entitle holders to voting rights on the use of Quidd’s content and licensing budgets.


Thus, on October 21, Animoca raised $65 million with more than 43.8 million of newly issued shares at $1.51 per share.


Source: Cointelegraph



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