PlatoFarm completes $ 1 million seed round and will launch NDO for the first time
PlatoFarm has announced that it has raised $1.8 million in seed round financing, with investments from Block Ventures — a top venture capital firm in Silicon Valley — and Chronos Ventures, a top VC firm in Russia. Additional investments came from Cipholioop, Web4 Venture, OP Crypto, Formless, K&R Limited and other institutions.
PlatoFarm is a multichain blockchain game from Second Space that integrates a decentralized wallet, nonfungible tokens (NFTs), a decentralized exchange and social features to enhance user experience and lower barriers to entry.
PlatoFarm will also introduce a unique decentralized autonomous organization (DAO) governance model that combines the traditional token asset model with a time-of-play model, where players in the community can also participate in DAO governance based on their time spent playing PlatoFarm. This unique DAO governance model provides a new solution for blockchain games, and even for the entire blockchain industry.
The PlatoFarm ecosystem
The official version of the game is about to launch and has 220,000 preregistered users and 70,000 Beta players from the United States, Russia, Japan, South Korea and Southeast Asia.
After passing Beta testing, the project side has now completed the optimization of various functions to ensure that the online version brings a quality experience to players. PlatoFarm has been growing strongly since its inception, and its community is expanding massively — with over 50,000 users on Telegram, nearly 20,000 on Twitter and 10,000 on Discord, as of the time of publication.
PlatoFarm’s disruptive innovation for metaverse games: NDOs
In addition to the upcoming launch of the game, PlatoFarm’s upcoming initial DEX offering (IDO) and the industry’s first NDO are also worth looking forward to. PlatoFarm will first launch its IDO on a well-known DEX, then its NDO. The NDO is a new public-offering mechanism and is the first NFT transaction to issue tokens. PlatoFarm’s NDO will be conducted on its official website, and PLATO tokens will be entered into the trading pool through smart contracts. In the process of NFT trading, the user triggers the trading pool’s smart contract to mine PLATO at a low price and make profits. During this period, all taxes and fees generated by the NFT transaction will be returned to the community. Currently, an NDO has not yet been tried in the industry, and PlatoFarm is ushering in a new era of blockchain gaming.
PlatoFarm will launch a community vote on whether to implement the NDO, and all experienced supporters and players will vote together on whether to support PlatoFarm distributing 200,000 PLATO to individual DAO community members through the NDO. After 24 hours, over 51% of all voting members must approve the NDO; otherwise, it will not be supported. (PlatoFarm will also launch a public NDO vote on its Twitter account in the coming days).
- Trading pool: PlatoFarm puts 200,000 PLATO into contracts and forms three trading pools of 30,000, 50,000 and 120,000 tokens. Trading in different trading pools will give corresponding NFTs different numbers of PLATO and unlock PLATO until NFT trading is finished.
- A 5% tax on NFT transactions is fully returned to community DAO members (MARK holders, PLATO holders, community volunteers and game players).
- The three trading pools are expected to have 50%~500% space, and the PLATO obtained can be 100% circulated.
Something to look forward to
After the NDO’s launch, the PlatoFarm community can shift its focus onto other big, exciting events for the platform, as it will be listed on one of the largest, most decentralized exchanges in the near future.