Aavegotchi's Pixelcraft Studios Raises $30 Million in Successful Token Sale

ChainPlay

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one year ago

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Pixelcraft Studios, the developers behind the collectible web3 game Aavegotchi, announced recently that they have raised a whopping $30 million in a multiyear token sale. 

The sale of the $GHST token using a decentralized funding mechanism was launched back on September 14, 2020, in which no VCs or angel investors were directly involved in the process.

The $30 million token sale is considered one of the largest fundraising rounds this year but was ended abruptly due to the de-pegging of DAI and USDC caused by the Silicon Valley Bank collapse. The fund showcases the strong community behind Pixelcraft, supporting the studio in its upcoming projects.

Pixelcraft Studios claims it will receive 25% of the total funds raised, or $7.5 million, while the DAO treasury will receive the remaining 75%, or $22.5 million. "We are thrilled to have such a strong and passionate community behind us and are excited about the potential of AavegotchiDAO receiving the lion's share of this raise," said Coder Dan, Co-founder, and CEO of Pixelcraft Studios.

Aavegotchi is a popular NFT collectible game built on Ethereum where players can buy and grow collectible NFT creatures called Aavegotchis. Users can customize, nurture, and battle using their Avegotchis and participate in various activities within the game.

Notably, Aavegotchi combined gaming and DeFi by allowing gamers to earn in various ways like acquiring land, playing mini-games, and earning passively through Aavegotchi NFTs.

Final Thoughts

The funds raised will be used to further Pixelcraft’s future projects and ecosystem. Although its exact details have yet to be revealed, its roadmap consists of a new gaming blockchain, upcoming cross-platform NFT games, and more.

You can learn more about Aavegotchi by visiting this link: https://chainplay.gg/games/aavegotchi/