Infinite Fleet has launched a Security Token Offering (STO) on the STOKR platform with a major investment of $1 Million by Tether’s parent company, Tether International Limited.
Depending on local securities regulations, the general public will be able to invest in the STO in select European Union countries using Euro (EUR), Bitcoin (BTC), and Tether (USDT) starting at $100.
Infinite Fleet’s official in-game currency will be the INF token, a cryptocurrency that can be taken and purchased out of the game by players. This cryptocurrency can be transferred to a player’s crypto wallet and interacted within the game just as any in-game currency in other titles.
Investors who are not in the United States but want to invest more than $10000 will need to contact the developer directly in order to do so. This represents one of the largest capital raises by a blockchain-based gaming company so far.
Infinite Fleet’s Investment Pitch for EU Residents
The Infinite Fleet security token is issued by Exordium S.C.S. and offers equity in the Exordium parent company with the equivalent shares on future profit.
Stokr is a startup based in Luxembourg focused on pioneering in the digital securities sector. It provides turn-key solutions to ventures of all sizes, allowing them to access capital markets in compliance with the European Union’s regulations.
An STO That May Attract More Attention
The STO is currently led by Tether International Limited, the parent company behind the most popular stablecoin Tether (USDT). With an investment of $1 million in EXOeu tokens, the company kickstarted the funding campaign.
The STO round has so far raised over $2.5 million in funding since its launch on January 17th, 2021, in what seems likely to surpass a previous STO in which the developer raised $3.1 million on the STOKR platform.
Tether International Limited’s CTO, Paolo Ardoino, shared is expectations for the integration of cryptocurrencies and videogames by stating:
“As a former MMORPG game developer myself, I see great potential in the application of crypto assets to multiplayer online games. It is a perfect match of two rapidly growing digital sectors with tremendous upside. Samson Mow and his team are veterans with proven track records in both fields, with a clear vision of what they want to achieve.”
The videogame industry remains one of the most important niches for cryptocurrency mass adoption, with 2020 representing a year of incredible growth for blockchain gaming.
Gaming Developed Around Cryptocurrency
By using a Proof-of-Participation consensus algorithm, players will be able to “mine” the currency by participating in the game and in special events where INF will be awarded, just like gold or other currencies would be earned in other MMORPGs.
This gamified version of Proof-of-work represents an innovative approach in the videogame industry, effectively providing players with rewards that have value beyond the game and they can truly own by using blockchain technology.
INF will be issued using the Liquid Network, a layer-2 network built over the Bitcoin Blockchain. This approach will use federated signings and real-time BTC pegging to allow high-frequency transactions required by the game while keeping the decentralization of the network.
The game will take place in space and be a strategy massive online multiplayer game that will see thousands of players compete against each other for control of the galaxy, explore, and create their own fleets.
Infinite Fleet’s development started in June 2018 and has been making headlines ever since due to its ambitious and triple-A nature, an unprecedented in the blockchain gaming niche.
It appears that the blockchain gaming space is heating up – and may become the next hot sector in an area that seems to attract more investment all the time.