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Publisher of 'Infinite Fleet' Game Kicks Off Token Offering With $1M Tether Investment
The security token offering enables investors in select European countries to share in future profits, Exordium says.
Updated May 9, 2023, 3:15 a.m. Published Jan 18, 2021, 12:00 p.m.
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The publisher of the upcoming online space strategy game “Infinite Fleet" is providing a chance to buy into equity and share in future profits through the launch of a public security token offering (STO).
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Announced Monday, Luxembourg-based Exordium has just launched the token-based funding round in select European countries. The tokens are priced at $0.50 per EXOeu token and are being issued by tokenization platform Blockstream AMP.
Tether International Limited, an arm of the stablecoin issuer, is leading the round, having already invested $1 million in Exordium's tokens. The funding model is aimed to democratize venture capital by making the investment accessible to the general public, Exordium said.
The raise, said to be in accordance with EU capital market laws, is being conducted via digital marketplace STOKR, which provides turnkey solutions for small-to-medium-sized ventures requiring access to capital markets.
According to the announcement, investors will be able to invest via STOKR using currencies such as the euro, and digital assets including bitcoin and tether , with a minimum investment of $100.
"Unlike Kickstarter, investors in security tokens receive real financial rights in the company in which they are investing," said STOKR co-founder Arnab Naskar.
MMO meets STO
The humans vs. aliens massively multiplayer online (MMO) space game is being 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 game will use a different digital token to drive its in-game economy
“As a former ... game developer myself, I see great potential in the application of crypto assets to multiplayer online games,” said Tether CTO Paolo Ardoino.
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The MMO, developed by Pixelmatic, previously raised $3.1 million through its own private STO in August last year backed by Litecoin creator Charlie Lee, Blockstream CEO Adam Back, Heisenberg Capital founder Max Keiser among others.
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