Splinterlands, an NFT-based game, raises $3.6 million in a private token sale.

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Only 6.6 percent of the SPS token supply was set aside for the private sale. Purchasers must wait at least ten months for their options to vest.

Splinterlands, a blockchain-based trading card game, has completed a private token sale that netted the company $3.6 million in proceeds, demonstrating that investors are eager to back promising crypto plays.

The sale centered around the SPS token, which was built for the Splintershards Decentralized Autonomous Organization and will form the basis of game-related governance proposals. Users will be able to influence a variety of governance-related decisions using the SPS token, including sponsored tournaments, rewards, and card balance updates, among other things.

Animoca Brands, Blockchain Founders Fund, Enjin, Polygon, Yield Guild Games, Gate.io, 3Commas Capital, Alpha Sigma Capital, AGE Crypto Asset Investment Fund, TechmeetsTrader, and many other crypto-native funds and ecosystem players contributed to the token raise. Ran Neuner, as well as the founders of Taiwan Mobile, Simplex, and Sandbox, were among the individual investors.

The token sale ended around the same time Splinterlands reached another significant milestone: 150,000 players.

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Jesse Reich, co-founder and CEO of Splinterlands, announced on June 18 that the game had reached 100,000 users after three years and one month of operation. However, over the next six weeks, the game would gain another 50,000 users.

“For three years, Splinterlands has been pushing the boundaries of crypto gaming. “We’ve played 60 million games and sold out of four card editions,” Reich explained. “The year 2021 is the best in company history, and business is booming.”

According to the CEO of Splinterlands, games like Axie Infinity demonstrate how “NFT gaming can be one of the most powerful economic tools on the planet.”

When a player joins Splinterlands, he or she is essentially competing for a limited reward pool of Dark Energy Crystals (DEC) — the in-game cryptocurrency — as well as scarce NFTs. Splinterlands has amassed a sizable fan base since early 2020, when Cointelegraph first examined the title as part of its crypto games review. The use of NFTs by Splinterlands was thought to be fairly unique at the time. Nonfungible tokens have become mainstream in the year and a half since, with sales exceeding $2.5 billion between January and June of this year.

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