Crypto Unicorns Nets $26M in Token Sales Led by TCG, Backed VC

Participants of the $26 million token sale will play a “key” role in future governance decisions, according to the game’s developer

article-image

Source: Shutterstock

share

key takeaways

  • Polygon-based Crypto Unicorns has raised funds via a token sale where the participants will partake in its governance
  • Despite a declining interest in NFTs, investment continues to flow into the nascent sector

Crypto Unicorns, a popular NFT collection based on the Polygon blockchain, has netted $26 million in a token sale led by metaverse firm TCG and venture capital fund Backed VC.

BITKRAFT Ventures, Delphi Digital, Infinity Venture Crypto, Polygon Studios, CoinFund, BreederDAO, Emfarsis and ACME Capital also participated, among others, according to a press release on Tuesday.

Crypto Unicorns is expected to launch by the end of the month and will allow users to raise, breed and evolve their collectibles before sending them off to race opponents as well as participate in jousting contests.

Funds raised via Crypto Unicorn’s token sales are held in the Crypto Unicorns DAO Treasury. Participants of the $26 million token sale will play a “key” role in future governance decisions, the game’s developer Laguna Games said.

The purchase signals a continued interest by investors to participate in Web3 and NFT-based startups despite the sector having cooled from the frothy market conditions witnessed last year.

The digital pet and farming game has risen to popularity among collectors with more than 10,000 “unicorn” and 30,000 land NFTs (non-fungible tokens) sold with a value exceeding 2,200 ether ($4.8 million), per the release.

“We’ve developed Crypto Unicorns from the start to be a community-run game and the completion of this token sale is a big step toward that,” said Aron Beierschmitt, CEO and co-founder of Laguna.

“We want to move away from the extractive nature of free-to-play and nurture game economies that are owned by communities to embrace the core fundamentals of owning in-game items.

Gaming on the blockchain now represents more than 50% of the crypto industry’s activity, according to data by decentralized application store DappRadar. However, the sector is not without scams and rug pulls, which have resulted in more than half of NFT owners having lost access to at least one of their digital collectibles.


Start your day with top crypto insights from David Canellis and Katherine Ross. Subscribe to the Empire newsletter.

Explore the growing intersection between crypto, macroeconomics, policy and finance with Ben Strack, Casey Wagner and Felix Jauvin. Subscribe to the Forward Guidance newsletter.

Get alpha directly in your inbox with the 0xResearch newsletter — market highlights, charts, degen trade ideas, governance updates, and more.

The Lightspeed newsletter is all things Solana, in your inbox, every day. Subscribe to daily Solana news from Jack Kubinec and Jeff Albus.

Tags

Upcoming Events

Javits Center North | 445 11th Ave

Tues - Thurs, March 18 - 20, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

Brooklyn, NY

TUES - THURS, JUNE 24 - 26, 2025

Permissionless IV serves as the definitive gathering for crypto’s technical founders, developers, and builders to come together and create the future.If you’re ready to shape the future of crypto, Permissionless IV is where it happens.

recent research

dydx unlimited.png

Research

dYdX Unlimited is a revamp to the protocol's design and tokenomics.

article-image

A Solana researcher identified that the network’s top sandwich bot was pocketing millions of dollars a day from sandwich attacks

article-image

A strategic currency devaluation does have some historical precedent in China

article-image

Bitwise execs predicted Tuesday that bitcoin ETFs will attract more flows next year than they did in 2024

article-image

Extended is ramping up its hybrid derivatives exchange with a key offering

article-image

The middleware blockchain infra platform is breaking the “one-size-fits-all” mold that comes with existing blockchain tech stacks

article-image

Things may look grim, but there’s still time for altcoins to turn things around in 2024