Animoca Brands Corporation Ltd subsidiary Quidd has raised US$5 million for its QUIDD token through private sale, pre-sale and an initial DEX (decentralised exchange) offering, which is now available for sale on Pancake Swap.
Quidd is the first marketplace built for buying and selling limited-edition, individually serialised digital collectibles. Animoca Brands points to its easy-to-understand user interface and experience as key draw points for the general public.
The QUIDD token is Ethereum-based, using ERC-20 blockchain architecture (the technical standard used for all smart contracts on the Ethereum blockchain) to provide a utility token for the Quidd community of collectors, creators, and developers.
Digital collectible pioneer
Animoca Brands executive chair and co-founder Yat Sui commented: "Quidd and the QUIDD token represent an important effort here at Animoca Brands: the evolution of collectibles into digital formats.
“Quidd has pioneered digital collectibles since 2016, long before the rise of NFTs. The physical trading card market will be worth nearly $100 billion by 2027, and Quidd is not only taking this massive market into the digital realm but also putting it on blockchain to guarantee true property rights and scarcity for the new era of collecting."
The QUIDD token’s initial DEX offering (the blockchain version of an IPO) took place on November 18, 2021, on Polkastarter, with the allotted 2 million QUIDD tokens at US$0.25 selling out in under an hour and raising US$500,000.
Subsequently, the QUIDD token listed on PancakeSwap paired with WBNB, REVV, TOWER, LMT, PROS, and BONDLY. The price of the token at the time of writing is US$3.51, representing a 1304% increase from the IDO price of US$0.25.
“A community of the future”
Quidd CEO and co-founder Michael Bramlage said: “The QUIDD token marks a major next step for the Quidd marketplace, moving us firmly into the world of web 3.0.
“Older collectibles markets talk about acquiring users to buy and sell. The QUIDD token helps us build a community of the future, one where we talk about members and owners joining and participating. We are thrilled about what’s in store.”
Earlier this month, the private sale of the QUIDD token raised US$4 million from investors including Binance Smart Chain Growth Fund, Genesis (TSX:GDC) Block Ventures, Kingsway, Mind Fund Group Ltd, Sanctor Capital, OneFootball and other angel investors.
A presale on the Animoca Brands Launchpad in early November sold 1,001 vouchers in 22 minutes for a total of US$500,500. Each voucher costs about US$500 and can be used to redeem 2,500 QUID tokens after May 3, 2022.
Offering beloved character collectibles
Binance Smart Chain Growth Fund investment director Gwendolyn Regina commented: “Quidd has enabled 7 million collectors to acquire digital collectibles that bring some of their favourite brands and characters closer to their hearts.
“With this partnership, we extend these beloved collectibles to BSC users and are also able to welcome many more users to the blockchain and crypto world through these NFTs.”
Quidd serves 7 million collectors of limited-edition digital goods, stores more than 2.1 billion pieces of serialised digital artworks, and facilitates at least six transactions per second in its secondary marketplace.
The QUIDD token – with a total supply of 1 billion tokens – will be the essential currency for digital collectors who wish to access the offerings hosted on Quidd’s marketplace, which is chain-agnostic and will give buyers and collectors the choice to mint their collectibles on their preferred network, such as Ethereum, WAX, and Flow.
In addition to enabling trading activity, the QUIDD token is designed to create long-term value through collector activity and participation. The token imbues holders with voting rights on the deployment of Quidd’s content and licensing budgets. Quidd is open to third-party development, which will generate even more value for the QUIDD token over time.
Quidd is one of the only places to buy and sell digital collectibles for real money and cash out in a full AML compliant manner.
The lightpaper of the QUIDD token is available at: https://qp-protocol-limited.gitbook.io/lightpaper
About the companies
Quidd, a subsidiary of Animoca Brands, is the original digital collectibles and NFT marketplace. For over five years, Quidd has facilitated the issuance, sale, and exchange of limited-edition, officially licensed digital collectibles, featuring more than 325 of the world’s most popular brands, including Disney, Game of Thrones, Rick and Morty, and many others.
Animoca Brands is a leader in digital entertainment, blockchain, and gamification that is driving digital property rights via NFTs and gaming to help build the open metaverse.
It develops and publishes a broad portfolio of products including the REVV token and SAND token; original games and products utilising hundreds of popular intellectual properties.
The company has multiple subsidiaries, including The Sandbox, Blowfish Studios, Quidd, GAMEE, nWay, Pixowl, Bondly and Lympo.
Animoca Brands has a growing portfolio of more than 100 investments in NFT-related companies and decentralised projects that are contributing to building the open metaverse, including Axie Infinity, OpenSea, Dapper Labs (NBA Top Shot), Bitski, Harmony, Alien Worlds, Star Atlas, and others.