The Crypto Gaming United (CGU) token sale will open on TimeX at 2:00 PM UTC on 18 October 2021.
(5:00PM Moscow MSW / 10:00PM China Standard Time CST / 1:00AM Sydney AEDT Oct 19)
The emergence of play-to-earn blockchain games has created many opportunities for gamers and crypto investors alike. Crypto Gaming United (CGU) seeks to both leverage and drive the growth of the sector over the coming years through a series of initiatives that will increase access and earnings for players.
The main source of revenues for CGU is rental of valuable DAO-owned NFTs (like Axies) in return for a proportion of daily income, enabling players to participate in the most lucrative gaming opportunities and NFT owners to monetise their assets. As CGU scales, the influx of new users into play-to-earn games will also have a meaningful impact on the market price of these NFTs.
The CGU token will be distributed to DAO members in return for undertaking a range of activities that promote the initiative and grow the community, including referring friends, creating educational resources, streaming gameplay, and exceeding earnings targets, as well as staking. Demand for CGU is driven by its utility as the native token of the DAO and the means of purchasing different services and upgrades, and by the flow of revenues from gamers into the currency.
CGU has a total supply of 1 billion tokens, with 26% allocated to investors. A further 40% are allocated to the community, 18% to the project treasury, and 16% to CGU’s founders and advisors.
A $5 million seed round and $10 million pre-IDO round have already been completed, both with locking periods and 3-year vesting schedules.
The sale will take place on TimeX, starting at 2:00 PM (UTC) on 18 October 2021.
25% of the funds collected will be used for developing and bootstrapping the CGU community and DAO, with the remaining 75% being allocated to a Treasury of digital assets, collectively owned by the DAO.
To find out more, read the CGU white paper.