Aavegotchi developer Pixelcraft Studios raises $30 million in token funding

2023-03-21 07:36:46

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ChainCatcher news, the developer of the metaverse game Aavegotchi, Pixelcraft Studios, announced on Monday the successful completion of a long-term token sale that lasted for several years, raising a total of $30 million.

It is reported that the Aavegotchi token GHST has been undergoing a DAICO (Decentralized Autonomous ICO) since September 14, 2020, for over two years, without direct participation from venture capital or angel investors. Due to the uncertainty surrounding the stability of the DAI stablecoin, the AavegotchiDAO voted to terminate the sale.

The funds will be distributed among community participants, with Pixelcraft Studios, the main developer of Aavegotchi, receiving 25%, or $7.5 million, and the DAO treasury receiving the remaining $22.5 million. All funds will be specifically used for development, marketing, providing liquidity, or protocol rewards. (PRNews)

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