Online space strategy game "Infinite Fleet," developed by Pixelmatic, has raised $3.1 million through a private security token offering (STO).
- Announced Friday, the round can be broken into two parts, with $2.75 million raised via Simple Agreements for Future Tokens (SAFTs).
- This portion of the funding was led by Litecoin creator Charlie Lee, Blockstream CEO Adam Back, Heisenberg Capital founder Max Keiser and others.
- And a smaller $250,000 portion of the total $3.1 million raise was allocated to investors on investment platform BnkToTheFuture.
- Pixelmatic was founded by its chief executive, Samson Mow, who is also CSO at Bitcoin infrastructure firm Blockstream.
- The SAFT funding brings rights to investors once the token has been created at a future date.
- A public sale of the firm's token is expected in September via securities tokenization platform Liquid Securities (still in development) in a partnership with digital marketplace STOKR.
- Mow told CoinDesk that STOs would become a route "most projects follow in the future."
- The project had planned to raise $3 million and was oversubscribed by $100,000 over a 24-hour sale period, according to the announcement.
- The humans vs. aliens space MMO game will use a digital token to drive its in-game economy.
- The game has been developed by a team of game designers who have worked on franchises such as Age of Empires, Homeworld, Company of Heroes and Dawn of War.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.