With 808,000 users registering, the token sale was oversubscribed by 82 times.
Guild of Guardians (GOG), the upcoming NFT based mobile role-playing game, has raised US$5.3 million by selling its GEMS native token in two tranches. It held its token sale on November 30, 2021, on Coinlist. With 808,000 users registering, the token sale was oversubscribed by 82 times.
Reports say that over 10,700 new holders of GEM from more than 100 countries have purchased a maximum of US$500 worth of tokens. However, due to mounting regulatory concerns, users from countries such as China, the United States, Canada, and Australia were not allowed to buy tokens.
Out of the total 1 billion tokens, just 6% of them were allocated by the Guild of Guardians for sale on CoinList. Another 63% of the total supply of tokens will be distributed through:
GOG, a popular play-to-earn game, has planned to make its soft launch in the first quarter of 2022. It already has 400,000 pre-registered users. This game was developed by Stepico Games (a Ukrainian developer) with Immutable X (the first layer-2 NFT scaling solution on the Ethereum platform). Galaxy Digital and Coinbase support this gaming project.
Nicholas Kelland, the Immutable’s Head of Marketing, has said that they are launching Guild of Guardians on mobile to make it available to the largest number of people. He said:
"Not everyone has really robust gaming rigs and PCs and so on and so forth. So mobile was an easy choice for us. "
Every in-game asset owned by users is a tradable and exchangeable non-fungible asset.
Kelland went on to say:
"I think the concept of in-game asset ownership is a foregone conclusion. And it's a matter of when, not if. It goes back to the concept of the content creator economy and people, people basically owning this stuff that they deserve to own."