• XBorg, a Web3 company developing a collaborative credential infrastructure for gaming applications, sold out its $2 million seed round community allocation.
• The funds will facilitate the scaling and adoption efforts of XBorg’s infrastructure and applications to reach millions of players and fans worldwide.
• XBorg collected interest from more than 8,300 investors totalling $7M in soft commitments and is now sitting at a $50m valuation.
XBorg Sells Out Seed Round Community Allocation
XBorg, the Web3 company developing a collaborative credential infrastructure that allows players to create their digital identity and enjoy tailored user experiences within enhanced gaming applications, sold out their $2 million seed round community allocation in record time. Ahead of the raise, XBorg collected interest from more than 8,300 investors totalling $7M in soft commitments but decided to cap the community allocation at $2 million and maintain the remaining $3 million for leading VCs, closing out the $5 million seed round. The funds will facilitate the scaling and adoption efforts of XBorg’s infrastructure and applications to reach millions of players and fans worldwide.
$XBG Token Valuation
The $XBG token, expected to be launched towards the end of 2023, is now sitting at a $50m valuation.
Founder & CEO Statement
XBorg Founder and CEO Louis Regis commented: “Since day one, we have included our community in the development of XBorg as we believe that the future of gaming will be built by its players. Allocating a large part of our seed round to our community showcases our support for this notion. The widespread enthusiasm of our community in the current market conditions has exceeded all of our expectations and demonstrates their trust in our vision to disrupt the gaming and fan engagement industry.”
Future Plans
In coming months XBorg plans focus on further building its technology stack with an aim to open source components such as wallet-ready SDKs; crypto wallets; game engines; asset management tools; analytics dashboards; payment processing tools; games integration tools; streaming platforms; security features; blockchain-based achievement systems; game-specific UIs & UXes; marketing automation solutions etc., so developers can easily build next-generation gaming products on top of it.
Conclusion
The successful completion of this Community Allocation shows how much potential there is for companies like Xborg who are leveraging Web 3 technologies to unlock new forms entertainment experiences for gamers around world!