Charlie Lee, Adam Back Lead $3.1M Private Token Raise for Blockchain Game Infinite Fleet

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.

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