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Animoca Brands Raises $5M for Quidd, an NFT Marketplace

Animoca Brands’ Quidd, a marketplace for digital collectibles, has managed to raise $5 million in private pre-sales and an initial DEX offering (IDO). Quidd is also a subsidiary of Animoca Brands.

The token sale happened on Polkastarted, a Polkadot project incubator, on November 18th. The allocation of 2 million QUIDD tokens at a price of $0.25 per token managed to sell out in less than an hour, totaling $500,000.

A couple of weeks ago, the private sale of the Ethereum-based QUIDD tokens raised $4 million from big-name investors, such as Binance Smart Chain Growth Fund, Genesis Block Ventures, OneFootball, Mind Fund Group Ltd, Sanctor Capital, Kingsway, and several other angel investors.

1,001 vouchers were sold out in just 22 minutes during the November 3rd pre-sale on the Animoca Brands’ Launchpad. Every voucher had a cost of about $500, which brought the total value of the pre-sale to $500,000. After May 3rd, 2022, the vouchers can be used to redeem 2,500 QUIDD tokens.

Following the success of the IDO, the token became available for trading on PancakeSwap, the BSC decentralized exchange platform. Currently, the tokens can be traded for Wrapped BNB, and several Animoca-owned tokens, like TOWER, LMT, REVV, BONDLY, and PROS.

As of now, the token is trading hands at $3.28, which is an increase of 1,212% from the IDO price of $0.25. Still, it is down 31.9% from the ATH of $4.73 on November 20th.

Executive chairman and co-founder of Animoca Brands declared that the QUIDD token represents the “evolution of collectibles into digital formats.”

The CEO and co-founder of Quidd, Michael Bramlage, mentioned that the token represents Quidd moving towards the world of web 3.0:

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

The Quidd marketplace records 7 million users and more than 2.1 billion pieces of NFTs for sale.

Quidd considers its marketplace to be “chain-agnostic,” stating that the token “will give buyers and collectors the choice to mint their collectibles on their preferred networks, such as Ethereum, WAX, and Flow.”

Furthermore, the QUIDD token offers holders voting rights on the use of Quidd’s content and licensing budgets.

Source: CoinTelegraph.com

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