Crypto

Guild of Guardians, an NFT Game, Raises $5.3 Million in a Token Sale That Was 82 Times Oversubscribed

Guild of Guardians NFT Games

Guild of Guardians, an NFT game, raises $5.3 million in a token sale that was 82 times oversubscribed.

The soft launch of the play-to-earn game is scheduled for Q1 2022, with 400,000 users having pre-registered.

Guild of Guardians, an upcoming nonfungible token (NFT)-based mobile role-playing game, has already sold out two tranches of its native token, GEMS, for a sum of $5.3 million.

The token auction, which took place on CoinList on Tuesday, 30the of November 2021 was 82 times oversubscribed, with roughly 808,000 people enrolling. More than 10,700 new GEMS holders from more than 100 countries bought tokens worth up to $500 each. However, due to rising regulatory worries, users from Australia, the United States of America, Canada, and China were barred from acquiring tokens.

Guild of Guardians will sell 6% of the whole 1 billion tokens on CoinList, with the remaining 63 percent awarded through community-driven events, activities, and core gameplay.

The soft launch of the play-to-earn game is scheduled for the first quarter in 2022, with 400,000 users having pre-registered.

Stepico Games, a Ukrainian studio, collaborated on the game with Immutable X, an Australian-based NFT layer-two scaling solution. Immutable X, funded by Galaxy Digital and Coinbase, is the first layer-two scaling solution for NFTs on Ethereum.

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I’m a huge supporter of outstanding Australian crypto projects, as am I’m sure many others, therefore I’m hoping that the exclusion of Australians from investing in $IMX is simply an oversight by @CoinList.

— August 26, 2021, Nish Sequeira (@nishseq)

Guild of Guardians will be released on mobile devices, according to Nicholas Kelland, head of marketing at Immutable X.

“Not everyone has the most powerful gaming rigs, PCs, and so on. As a result, going mobile was a no-brainer for us.”

The early popularity of Guild of Guardian’s DEX occurs as play-to-earn gaming grows more popular. Every in-game asset owned by GOG customers is a transferable and exchangeable NFT.

“I believe the concept of in-game asset ownership is inevitable. “It goes back to the concept of the content creator economy and people — people owning this thing that they ought to own,” Kelland said, adding, “It’s a matter of when not if.”

This follows the inaugural Founder NFT sale, which raised $3 million in less than 24 hours in June. The second wave brought in $5 million, while the third and final wave brought in more than $4 million.

The Author

Samuel Adeshina

Samuel is a financial reporter whose interests include blockchain, market, business, insurance, and Crypto to provide relevant information to all interested.