Animoca Brands’ Quidd raises $5M through IDO and private pre-sales

Hong Kong-based gaming software company and venture capital Animoca Brands’ subsidiary and NFT marketplace Quidd have raised a total of $5 million in initial DEX offering (IDO) and private pre-sales. 

Polkadot project incubator Polkastarter hosted the sale of the token on November 18. The QUIDD’s attraction can be judged with its 2 million token sales at a price of $0.25, which took place within an hour, raising half a million.

In early November, the Ethereum-based QUIDD token’s private sale raised $4 million from investors, including Genesis Block Ventures, Binance Smart Chain Growth Fund, Sanctor Capital, Mind Fund Group Ltd, Kingsway, OneFootball.

The venture capital’s grace was evidentiary with Launchpad’s November 3 pre-sale, which sold 1,001 vouchers within 22 minutes with each voucher’s price around $500. It brought the pre-sales total value to $500,000. These vouchers can be redeemed after May 3, 2022, for 2,500 QUIDD tokens.

Animoca Brands helped Quinn gain popularity

PancakeSwap, the famous Binance Smart Chain decentralized platform, made the token available for trading after its successful IDO. The tokens are available for trading for Wrapped BNB (WBNB) and various other Animoca-based tokens like REVV, Tower (TOWER), Lympo Market Token (LMT), Bondly (BONDLY), Prosper (PROS).

The coin is currently trading at $3.32, representing a surge of more than 1230% from the IDO price of 0.25%. QUIDD token is down by 30% from its all-time high (ATH) attained on November 20. The total supply of the token is one billion and is available for the collectors, creators, and developers community.

Group Executive Chairman and co-founder of Animoca Brands, Yat Siu, said that the QUIDD token represents the evolution of digital collectibles. The CEO and co-founder of the subsidiary Quidd, Michael Bramlage, added that the token is a step to Quidd’s upcoming journey to the world of Web 3.0.

Animoca Brands’ influence has helped the Quidd marketplace in gaining more than 7 million users with more than 2.1 billion pieces of NFT artworks for sale. The company is known for its enthusiasm in the world. As TheCoinRise reported, the CEO Siu believes that NFTs are a new way to preserve culture.