Reports say that the supplier of the largest stablecoin in the world, Tether International, has committed $1 million to lead the recently announced public security token offering (STO) by Exordium to raise funding for its highly-anticipated new video game release. Notably, the STO started this January 18 within the STOKR platform.
Exordium’s upcoming game, Infinite Fleet, is a sci-fi massively multiplayer online (MMO) strategy game that ambitiously taps into blockchain’s power, making it definitely one-of-a-kind. Several personalities within the gaming community believe that the upcoming title has the potential to start a brand new trend within the industry when pulled off adequately.
Infinite Fleet’s publisher’s STO reportedly seeks a total of $8 million in which it states will all be used for the further development of the aforementioned game. As per the announcement, the public sector of the STO will have a $1 million hard cap and will be limited to chosen Europe-based territories. However, what makes it different from other fundraising efforts performed for other upcoming games is the fact that sale participants can acquire equity in the game publisher on top of a share in its future profits.
As briefly touched upon above, Exordium’s fundraising drive will be performed within the STOKR platform. It will allow public investors to buy EXOeu security tokens priced at $0.50 per piece with a required minimum purchase limit of $100. The announcement notes that investors may use several forms of currencies to participate in the STO. This includes Bitcoin (BTC), Tether (USDT), and conventional euros.
Chief technology officer of Tether, Paolo Ardoino, commented on the stablecoin firm’s commitment to the upcoming video game by stating that he sees great potential in the integration of blockchain to MMO game economies. He adds that as a former game developer himself, he believes that the mixture of these two rapidly expanding industries within the digital space brings forth excellent news.