Aussies shut out as Immutable’s Guild Of Guardians raises $5.3m on GOG token sale
Regulatory uncertainty has meant that once again Aussies have been shut out of participating in a potentially lucrative token offering.
Sydney-based studio Immutable last month raised $US5.3 million on Coinlist for Guild of Guardians, an NFT-based mobile blockchain game it is publishing in partnership with Ukrainian developer Stepico Games.
The token sale was oversubscribed by 82 times, with a near-record high of 808,000 registrations from people eager to purchase up to a maximum of US$500 in GOG tokens.
But Australians were excluded from participating, along with Canadians, Chinese and Americans.
Aussies and Americans were also shut out of Immutable’s Immutable X token sale on CoinList in September. The 25,000 people who managed to participate have done phenomenally well — tokens sold for just 15c, and are now changing hands for US$8.27. Someone who contributed the maximum of US$500 would have US$27,500 worth of IMX tokens now.
I’m super bullish on quality Aussie crypto projects and love to support them as I’m sure others do too so I hope the exclusion of Australians being able to invest in $IMX is just an error by @CoinList
— Nish Sequeira (@nishseq) August 26, 2021
The IMX tokens power Immutable’s Starkware-powered layer 2 scaling solution for Ethereum-based games and NFTs, which is being used for Guild of Guardians. (This means that transactions within the game will be free, and users won’t have to pay Ethereum’s exorbitant gas fees, an
Just 10,700 of the 808,000 registrants managed to buy GOG tokens this time round, with most agreeing to a variable 12-month vesting period in exchange for a cheaper price. Those who didn’t pick that option will be able to sell half their tokens on December 21.
The CoinList sale follows the completion of three waves of Guild of Guardian’s playable NFTs, which have raised a total of US$17 million since June.
Just pretty damn cool, really 😊 pic.twitter.com/a3MFzrgMZt
— GuildOfGuardians (@GuildOfGuardian) November 29, 2021
The GOG token (dubbed “GEMS”) will form the foundation of the game’s economy, providing user participation rewards through staking, and can be used to purchase more NFTs.
“We are on a journey to disrupt the gaming industry and to build the future of play-and-earn: A world where gamers can play a game they enjoy, while simultaneously earning and trading as part of a massive, open-world economy,” said game lead Derek Lau.
“The response to our Coinlist and NFT sales have been phenomenal and goes to further prove this is something that is desired by the market as well.”
Guild Of Guardians is expected to launch on Android and iOS next year.
The game already has 370,000 users across Discord, Twitter, and Facebook.