Let’s have a look at the most successful IDOs that have managed to attract investors’ attention in 2021.
If 2017 was the year of the ICO, 2021 is assuredly the era of IDOs. In contrast to their crowdfunding predecessors, Initial DEX Offerings see projects debut on decentralized exchanges, whereupon tokens are immediately made available for trading. Beloved of DeFi ventures the world over, IDOs give community investors the opportunity to get in on the ground floor of projects they deem promising, while startups get to build a war chest by listing their native token with a credible platform.
This year, we’ve seen numerous IDOs sell out in minutes, and one recent project Aurory even managed to raise an eye-watering $109 million for its play-to-earn gaming ecosystem. Here are five others worth keeping tabs on.
Swash
Swash is a data monetization movement that reimagines data ownership for the benefit of all parties: businesses, advertisers, and end users. Ostensibly, the redistributive project is about cutting people in on the value generated from their data, while also giving advertisers access to richer information with the owner’s informed consent. To date, the platform has on-boarded over 90,000 users.
Two weeks after the project’s successful IDO at the end of October, the team is Swash is leaping ahead in their roadmap and product offering by releasing the latest Swash app this week as part of the ecosystem’s First Wave Solutions. The app, which launched in 2019 and has over 90,000 users at the time of writing, enables everyday internet users to earn the ecosystem’s native cross-chain utility and governance token, SWASH, as they surf the web, making Universal Data Income a reality.
Planet Sandbox
Planet Sandbox is one of many projects riding the current gamefi wave. Gamefi – gamified finance – describes a landscape of browser and mobile games, whereupon players receive crypto rewards for completing missions, defeating rivals, and even renting virtual assets to others. A crypto-powered sandbox shooting game, Planet Sandbox encourages players to build their own worlds and also participate in battles using NFT weapons and accessories.
Early last month the project’s $PSB token launched on the RedKite (October 2) and GameFi (October 5) launchpads, before quickly ascending to third spot on DEXTools’ BSC Hot Pairs table after listing on PancakeSwap. Following the twin IDO, the platform partnered with community-governed NFT marketplace Babylons, through which it will list mystery weapon box NFTs for use in the metaverse. Some 2,000 boxes priced at $0.2 BNB will be available on November 10, in what is being described as an Initial NFT Offering (INO).
HeroVerse
HeroVerse is another NFT gaming project that’s currently building up a head of steam. Bootstrapped by some of the biggest blockchain-focused VCs in the space (X21, AU21, Vendetta Capital), the project recently attracted over 10,000 downloads and 2,000 active players when its Beta Test went live on mobile and desktop. Intriguingly, it describes itself as play-and-earn rather than play-to-earn, a distinction that suggests earning is a mere byproduct of the entertainment to be enjoyed from the Match-Three/RPG content.
Like Planet Sandbox, HeroVerse recently launched its native $HER token on the RedKite and GameFi launchpads and quickly reached #1 on DEXTools. The game itself, meanwhile, will be officially released on November 11, with an integrated NFT sales marketplace available from the off.
Waggle Network
A decentralized marketplace that allows retail investors to diversify their investments into the primary market, Waggle Network conducted its IDO on Solanium last month, setting aside 600,000 $WAG tokens before making another 400,000 available for trading on gate.io. The cross-chain protocol also welcomed $3 million from private investors in September.
Created to help defi projects unlock liquidity following their IDOs, Waggle Network is becoming a formidable defi protocol in its own right, having recently announced its first farming project on Cropper Finance. Most recently, Waggle announced the launch of Pollinate, a marketplace designed to make token sales fair and create the most value for projects that list on Waggle. This is done by splitting tokens into two pools (Waggle and Project Pollinate Pools) and offering various opportunities for stakers and whitelist winners.
Gelato Network
Gelato Network is tokenizing ice cream – just kidding, it’s a decentralized automation protocol for Web3. Created to help automate smart contract execution on Ethereum and beyond, the project just raised $11m in a Series A funding round, welcoming investment from the likes of Dragonfly Capital and Aave Founder Stani Kulechov.
According to one investor, ParaFi’s Mika Honkasalo, Gelato’s bot network can support “a wide variety of applications that require automated actions, from liquidity provision strategies to margin management and other defi use cases.”
This fact was recognized by Gelato’s IDO participants when its native token $GEL went under the hammer back in September. The oversubscribed round saw the network raise $5 million from a sale that saw 4% of the token’s total supply eagerly snapped up. One thing’s for sure if Gelato can really help defi traders mitigate losses, $GEL is gonna be a hell of an investment.
Having obtained a diploma in Intercultural Communication, Julia continued her studies taking a Master’s degree in Economics and Management. Becoming captured by innovative technologies, Julia turned passionate about exploring emerging techs believing in their ability to transform all spheres of our life.
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