Quidd, a digital collectibles market and a subsidiary of Animoca Brands, has raised a total of US$5 million through private pre-sales and initial DEX products (IDO).

The token sale took place on the Polkadot project incubator Polkastarter on November 18. 2 million QUIDD tokens were sold out in less than an hour at a price of US$0.25 per token, raising US$500,000.

Earlier this month, a private placement of Ethereum-based QUIDD tokens raised $4 million from Binance Smart Chain Growth Fund, Genesis Block Ventures, Kingsway, Mind Fund Group Ltd, Sanctor Capital, OneFootball and other angel investors.

During the pre-sale of Animoca Brands’ Launchpad on November 3, 1,001 coupons were sold out in 22 minutes. The price of each coupon is approximately US$500, bringing the total value of the pre-sale to US$500,000. After May 3, 2022, the voucher can be exchanged for 2,500 QUIDD tokens.

After its successful IDO, the token can be used to trade on the Binance Smart Chain decentralized trading platform PancakeSwap. These tokens can currently trade Wrapped BNB (WBNB) and many Animoca-owned tokens, including Tower (TOWER), REVV (REVV), Lympo Market Token (LMT), Prosper (PROS) and Bondly (BONDLY).

Currently Price The price of the token is US$3.28, an increase of 1,212% from IDO’s price of US$0.25. It is down 31.9% from the all-time high of $4.73 on November 20, with a total supply of 1 billion tokens.

Quidd is the first market for buying and selling limited edition, individually serialized digital collectibles. QUIDD token is an ERC-20 utility token for Quidd collectors, creators and developer communities.

-Animoca Brands (@animocabrands) November 19, 2021

Animoca Brands is a Hong Kong-based gaming software company and venture capital company that specializes in blockchain games.

The company’s executive chairman and co-founder Xiao Yi stated that the QUIDD token represents “the evolution of collectibles to digital formats.”

Michael Bramlage, Quidd’s CEO and co-founder, added that the token marks Quidd’s move into the Web 3.0 world.

“The older collectibles market talks about acquiring users for buying and selling. QUIDD tokens help us build a future-oriented community.”

related: Animoca and Harmony acquire Quidd to expand sales of encrypted collectibles

The Quidd market has 7 million users and more than 2.1 billion irreplaceable artworks for sale.

In an announcement shared with Cointelegraph, Quidd described its market as “chain-agnostic” and stated that the token “will enable buyers and collectors to choose to mint their collectibles on their favorite networks, such as Ethereum , WAX and Flow.”

QUIDD tokens also give holders the right to vote on Quidd content and licensing budget.

On October 21, Animoca raised $65 million at a price of $1.51 per share and issued more than 43.8 million new shares.