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Animoca Brands Raises $5M for Quidd NFT Marketplace through QUIDD Sales

UTC by Ibukun Ogundare · 3 min read
Animoca Brands Raises $5M for Quidd NFT Marketplace through QUIDD Sales
Photo: Unsplash

Animoca Brands, a Hong Kong-based game developer and investor in non-fungible tokens (NFT), has raised $5 million for NFT marketplace, Quidd.

The fresh fund was powered by Quidd (QUIDD), an Animoca Brands subsidiary and a digital collectibles marketplace. Animoca Brands generated $5 million through private sales of the QUIDD token, pre-sales, and an initial DEX offering (IDO).

Quidd is a marketplace built for the buying and selling of limited digital collectibles. It #is easy to use interface appeals to both the providers of digital collectibles and the collectors.

Animoca Brands Secures Funds for NFT Marketplace, Quidd

Since the IDO, the Quidd token is now available on PancakeSwap, the Binance Smart Chain decentralized exchange platform, after a successful IDO. The token can be paired with Wrapped BNB (WBNB) and other Animoca-owned tokens like Tower (TOWER), REVV (REVV), Lympo Market Token LMT), Prosper (PROS), and Bondly (BONDLY).

The sale took place on an open-source project founded on Web3 foundation Polkadot project incubator Polkastarter on the 18th of November. About 2 million allotted tokens sold out in less than an hour, at $0.25 per coin.

At press time, the value of the token is $3.51, with a loss of 0.78% in the last 24 hours. In addition, QUIDD has declined 79.88% in its 24-hour trading volume. Quidd is well on its way to becoming an essential currency for digital collectors.

Speaking on the new funds for Quidd, Animoca Brands noted in a tweet:

“Quidd is the first marketplace built for buying and selling limited edition, individually serialized digital collectibles. The QUIDD token is the ERC-20 utility token for the Quidd community of collectors, creators and developers”

Earlier in the month, QUIDD secured $14 million from investors in a private sale. The investors include Genesis Block Ventures, Kingsway,  and Binance Smart Chain Growth Fund. Others are OneFootball, Mind Fund Group Ltd, Sanctor Capital, among others.

Also, the pre-sale on the Animoca Brands’ Launchpad, which was held on the 3rd of November, resulted in 1,0001 vouchers sold in 22 minutes. These vouchers cost about $500, totaling the absolute pre-sale to $500,000. As from the 3rd of May, holders can use their vouchers to redeem 2,500 Quidd tokens.

Comments on Quidd Marketplace and QUIDD Tokens

The executive chairman and co-founder of Quidd, Yat Siu, commented on the token. Siu said QUIDD is an “evolution of collectibles into digital formats.”

Michael Bramlage, the CEO, and co-founder of Quidd, also commented:

“The QUIDD token marks a major next step for the Quidd marketplace, moving us firmly into the world of web 3.0. Older collectibles markets talk about acquiring users to buy and sell. The QUIDD token helps build a community of the future.”

Notably, the Quidd marketplace has enabled 7 million collectors to acquire limited edition digital collectibles. Also, it has more than 2.1 billion pieces of serialized NFTs up for sale.

Additionally, the Quidd marketplace offers holders the right to its content and licensing budget while being described as a chain-agnostic marketplace. The token will also give buyers and collectors a choice to mint their collectibles over preferred networks like Ethereum, WAX, and Flow.

Business News, Market News, News
Ibukun Ogundare

Ibukun is a crypto/finance writer interested in passing relevant information, using non-complex words to reach all kinds of audience. Apart from writing, she likes to see movies, cook, and explore restaurants in the city of Lagos, where she resides.

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