Pixelcraft Studios’ longest token sale, raising a total of $30 million. The sale of the $GHST token begins on September 14, 2020. Its structure as a DAICO, a decentralized fundraising model initially proposed by Vitalik Buterin, the founder of Ethereum. Pixelcraft Studios’ longest token sale lasted for more than two years. It finally came to an end when AavegotchiDAO voted to end the sale. Due to uncertainty about the stability of the DAI stablecoin. The sale ended on the same day as the de-pegging of DAI and USDC caused by the collapse of Silicon Valley Bank.
The final raise of $30 million represents one of the largest fundraising rounds in 2023, particularly in the GameFi sector. Notably, no VCs or Angel Investors directly involve in the raise. The funds will split between community participants. Pixelcraft Studios, the lead developers of Aavegotchi, received 25%, or $7.5M, and the DAO Treasury received the remaining $22.5M. All funds will earmark for development, marketing, liquidity provision, or protocol rewards.
The Aavegotchi team expressed their gratitude for the overwhelming support from the community. Coder Dan, Co-founder, and CEO of Pixelcraft Studios said, “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. We thrill 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.”
The Aavegotchi ecosystem combines gaming, DeFi, and NFTs to create unique and engaging experiences for users. Aavegotchis are ghostly digital pets with unique traits and abilities that can purchase and customize by players. These Aavegotchis can then use to battle other players or participate in various games and activities within the Aavegotchi universe, known as The Gotchiverse.
The roadmap for 2023 includes a new gaming blockchain powered by Polygon Supernets with GHST as the gas token, new cross-platform gaming titles, and the full on-chain decentralization of the Aavegotchi protocol. This successful sale represents a model for responsible fundraising for future projects in the decentralized space.
