Quick take:
- The company also saw an oversubscribed CoinList sale with $15.5 million committed towards the targeted $4 million.
- The $ 500,000 private token sale on Echo was also oversubscribed, selling out in 11 seconds.
- The WalletConnect Foundation also conducted a private sale, raising $1.5 million from the company’s long-term supporters and strategic partners.
WalletConnect has raised $10 million across four consecutive private token sales. According to the announcement on Friday, the first tranche raised via Bitget’s LaunchX platform reached its $4 million target within two hours with 40,000 investors committing over $170 million.
The company also saw an oversubscribed CoinList sale with $15.5 million committed towards the targeted $4 million, while the $500,000 private token sale on Echo was also oversubscribed, selling out in 11 seconds.
On the other hand, the private sale conducted by WalletConnect Foundation raised $1.5 million from the company’s long-term supporters and strategic partners.
Commenting on the announcement, the WalletConnect Foundation told The Block in a statement: “The strong demand for the WalletConnect Token (WCT) underscores the growing need for seamless on-chain connectivity and a proven product market fit-centric token with real fundamentals.”
Overall, the sale attracted nearly 90,000 participants, further expanding the WalletConnect ecosystem. This follows an earlier airdrop, which distributed 50 million WCT tokens to 160,000 early adopters.
WalletConnect Foundation founder and director Pedro Gomes, “As the Network scales towards full permissionlessness, our community is growing alongside it. In a space crowded with vaporware, people are rallying behind real projects with true utility. We’re excited for the next chapter in the WalletConnect journey.”
The company plans to use the fresh capital to expand operations, grow its team and support ecosystem initiatives, for the benefit of developers, node operators and its strategic partners.
“As the network advances toward full permissionlessness, these resources will play a vital role in facilitating adoption and engagement, particularly as more of TradFi and the broader internet comes on-chain,” Gomes said.
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