Blockchain gaming platform BitGuild has successfully closed its ICO.
It sold 4.5 billion of its ERC20 Platinum (PLAT) token, worth around $14.5 million on current Ether pricing.
The current generation of ICOs is done. They will become more like traditional fund raises.
The majority of this – 3.5 million – was through a private sale, with the remainder through the public sale.
0.5 billion of unsold PLAT will be burnt.
Full speed ahead
BitGuild CEO Jared Psigoda told BlockchainGamer.biz the ICO “could have been better,” but he was happy the process was finished and the company could focus on building out its project.
“The ICO has taken up a large amount of resources,” he commented, adding he thought the current generation of ICO whereby companies generate investment for future products is now done.
“They will become more like a traditional fund raises where you build your product and then raise investment,” he predicted.
As for BitGuild, it expects to launch its website in May, which will include wallet functionality, auction house, and the first games, with more deeply integrated titles expected in Q4 2018.