Pixelcraft studios raises $30m in token sale

The funds were raised over two years by the players and community members of the NFT gaming metaverse.

Pixelcraft Studios, creator of the decentralized finance and NFT crypto pets experience Aavegotchi, has announced the completion of a multi-year token sale.

The sale has raised a total of $30m since its launch on September 14 2020 when the $GHST token was structured as a decentralized autonomous initial coin offering.

Standing as one of the largest fundraising rounds in 2023, lasting over two years, the token sale ended when the governing body of the Aavegotchi protocol voted to stop the sale over uncertainty regarding the stability of the DAI (Ethereum-based) stablecoin.

All funds from the sale will be designated for development, marketing, protocol rewards and liquidity provision.

The total amount will be split between the lead developers of Pixelcraft Studios and the Decentralized Autonomous Organization Treasury, with the former receiving 25%, equating to $7.5m, and the remaining $22.5m going to the latter.

“We are thrilled to have such a strong and passionate community behind us”, said Pixelcraft Studios chief executive Coder Dan.

“The successful conclusion of this sale represents a watershed moment for the decentralized fundraising space and, we hope, a model for responsible fundraising for projects in the future.”

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Written by Isabella Aslam

Reporter

Isabella is an experienced writer in B2B and B2C journalism. Alongside crypto, Isabella writes and discusses the topics of relationships and psychology. Isabella holds a first-class degree in music journalism and often interviews electronic artists and DJs.

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