Kawaii Islands, a non-fungible (NFT) play-to-earn gaming platform, announced today the launch of its Initial DEX offering (IDO), which will be held on the Polkastart platform.
As per the announcement, Kawaii Islands plans to hold an IDO for its native token, $KWT. The IDO is scheduled at 13:00 UTC, October 12, 2021, and TGE on PancakeSwap at 14:00 UTC.
Notably, the gaming platform hopes to secure about $250,000 in the capital during this event. So far, the token’s initial market cap stands at $800,000, with each $KWT trading at $0.03.
Currently, the project has over $3 million in funding collected from its private sales and a sale of three NFTs. The private token sale raised $2.4 million from 28 investors, while the NFT sales event raised over $600k in revenue.
Commenting on the IDO, Mr. Minh Do, CEO of Kawaii Islands and IMBA studio, stated2:
“We would like to express our deepest gratitude to all the supporters of the project. Since day one, we’ve been continually in the good graces of many wonderful investors, partners, and our thriving community. We are looking forward to the journey ahead and further developments of the Kawaii Islands project to provide the best NFT gaming experience for our community.” He added, “We cannot endorse Polkastarter highly enough! Other than being one of the greatest launchpads for blockchain projects, the team behind Polkastarter also provides us with their invaluable knowledge and extensive connection in the field. Not to mention the secure, decentralized environment that ensures the safety of funds.”
After making its debut last month, Kawaii Island is an anime metaverse on the cloud for multi-players developed to allow users experience a spectacular gaming experience through building, designing, crafting social networking, and farming with other players.
Following its alpha version launch, Kawaii Islands has gained a lot of traction. Currently, the platform has over 10,000 daily active players, with over $1.2 million in trading volume. The platform is also among the top seven active dApps on the Binance Smart Chain. In addition, for the last ten days of the Alpha game, the platform recorded more than $320k in total players’ earnings. In preparation for the IDO, over 8000 participants joined for the whitelisting, 30000 joined Kawaii Island’s social media platforms, while about 150k participated in the recent AMAs series.
Kawaii Islands plans to add KWT staking, NFT farming, renting features, and seasonal events, among so much more, in the coming days.