CRYPTO GAMING UNITED RAISES $2.5M IN 6 SECONDS OF PUBLIC TOKEN TRADING

On 18 October, Crypto Gaming United (CGU) joined Australia-based crypto exchange TimeX, and raised $2.5M in a record-breaking six seconds of public token trading. 

Co-founded by Russian-born cryptocurrency, DeFi, and blockchain app entrepreneur Sergei Sergienko, CGU operates on the principles of uber-economy. Instead of players spending money to buy their initial NFT characters, they rent them from the platform in exchange for a share of their daily income. At the same time, the games themselves reward players with income proportionate to their in-game skill and performance. 

Before the final open market sale of tokens, CGU had already raised $5M and $10M in seed and pre-IDO rounds respectively. The tokens released during those rounds are subject to a blocking period, with a 3-year rights transfer schedule, meaning that CGU tokens are now only available on the secondary market. 

In total, 10 million CGU tokens were made available for sale, priced at $0.25 each. Just six seconds after the market opened, all were sold. 

Commenting on the sale, CGU Co-Founder, Sergei Sergienko, said: “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.”

According to the token emission prospect, the next step for CGU is to increase the number of active players on the platform to the 100,000 mark, while also creating and developing CGU and DAO communities for the project. 

Overall, Crypto Gaming United, has now raised $17.5M over three investment rounds, and the total volume of CGU’s emission is 1 billion tokens, 26% of which belong to investors.