HomeNewsAnimoca Brands raised $5 million for Quidd, an NFT marketplace

Animoca Brands raised $5 million for Quidd, an NFT marketplace

Quidd is an NFT marketplace for digital collectibles and comes under Animoca Brands. Recently, the brand has raised $5 million for the NFT marketplace in private pre-sales and an IDO.

Polkadot project incubator Polkastarter conducted the token sale on November 18. Around 2 million QUIDD tokens were sold in the token sale for $0.25 per token. Surprisingly, it raised around $500,000 under an hour.

Previously, Animoca Brands had raised $4 million for Quidd through a private sale. It included investors such as Binance Smart Chain Growth Fund, Genesis Block Ventures, Kingsway, Mind Fund Group Ltd, Sanctor Capital & OneFootball.

During that sale, 1,001 vouchers sold out in 22 minutes. Each voucher had a price of $500, so the total value of the pre-sale was $500,000. Buyers can use these vouchers to redeem 2,500 QUIDD tokens after May 3, 2022.

After the IDO, interested buyers can buy the token at PancakeSwap, Binance Smart Chain’s decentralized exchange platform. Users can trade the token for Wrapped BNB (WBNB), and several Animoca-owned tokens, including Tower (TOWER), REVV (REVV), Lympo Market Token (LMT), Prosper (PROS), and Bondly (BONDLY).

As of writing, QUIDD is trading at $3.53 with a 24-hour price change of -0.2%. It has touched a maximum of $3.61 before succumbing back to the mid-50s.

Talking about the company, Animoca Brands is a game software company and venture capital company from Hong Kong. The company specializes in blockchain gaming.

Besides this, executive chairman and co-founder of the firm, Yat Siu stated that the QUIDD token represents the “evolution of collectibles into digital formats.”

Also, CEO and co-founder of Quidd, Michael Bramlage, added that the toke marches towards the world of Web 3.0.

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