In Third Public Round, Start-up CGU Raises $2.5 Million USD

Key takeaways:

  • CGU raised $2.5 million USD in six seconds in the third and final investment round of one of the most successful tokens ever created.
  • The seed and pre-IDO rounds had previously finished at $5 million and $10 million, respectively. The tokens issued during these rounds have a three-year rights transfer timetable and a blocking period.
In Third Public Round, Start-Up Cgu Raises $2.5 Million Usd

Crypto Gaming United (CGU), a crypto platform that joined the Australian crypto exchange TimeX on October 18th, generated $2.5 million in a record-breaking six seconds after public token trading began. CGU is based on uber-economic principles. Gamers do not need to spend money on the first purchase of NFT-characters. In exchange for a portion of their daily revenue, the site rents them out to players. Meanwhile, video games reward players with profits proportional to their talent and efficiency in the game.

The third and final funding round was the open market sale of GCU tokens. The seed and pre-IDO rounds had previously finished at $5 million and $10 million, respectively. The tokens issued during these rounds have a three-year rights transfer timetable and a blocking period. As a result, CGU’s tokens may now only be purchased on the secondary market.

In all, 10 million GCU tokens were available for purchase at $0.25 each. All tokens had been purchased out within 6 seconds of the marketplace opening.

“Success of every project is always measured by the market. We never expected the demand to be high enough to sell all the tokens in under 6 seconds. This makes it even more pleasant to realize the importance of the gaming crypto platform CGU to the market, and to feel the support coming from the project’s community,”  said Sergei Sergienko.

According to Sergei, the next step for CGU is to focus on the goal outlined in the token’s emission option, which is to raise the number of active players on the platform to a hundred thousand shortly. The monies raised will also be used for the project’s growth and improvement of the CGU and DAO areas.

During the three funding rounds, Crypto Gaming United raised a total of $17.5 million. The overall volume of CGU tokens is 1 billion, with investors owning 26% of the total.

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Aadrika Sharma

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