Solana GameFi and metaverse project looking to fill the shoes of Axie, Sandbox and Decentraland following AURY token and Aurorian NFT sale.
AURY Token Grabs Investor Attention
The Aurory Project completed their initial DEX offering (IDO) for its token, AURY, that raised $100 million of funds at a price of $15.54 as announced by the NFT project on Twitter.
The post added that listing the FTX exchange and other decentralized & centralized exchanges will be soon to follow. Nearly $109 million was raised in the IDO providing the project with ample funds to support liquidity. 7% of the total supply of AURY tokens, i.e. 7 million tokens were auctioned off in the IDO that re-used the IDO program developed and used by Mango Markets.
“The initial distribution offering (IDO) of a token is one of the most important points of any project as it involves having a part of the circulating supply distributed to the open market. Often projects will perform it via several mechanisms — eg. through launchpads, initial exchange offerings, or through open sales and lotteries.” mentioned the project’s Medium blog on October 16th.
The post looked to address the fairness of the public release which was designed to keep factors like equal access, price adoption in sync with overall demand, and bypass the effect of false scarcity.
Additionally, the project has decided to go against the model that uses the Aurorian NFT as whitelist key, which would entail that only holders of the Aurorian NFTs can participate in the IDO. The project has opted to go for a sustainable decentralized autonomous organization (DAO) that ensures that 5% of the total AURY token supply is allocated to the Auririans DAO.
The project elaborates on its tokenomics through the blog, and investors certainly seemed convinced as the IDO went off without a hitch. We’ll be following closely to see how the Aurory project develops from here.
About Aurory Project
The Aurory Project is the team behind the Aurory play to earn (P2E) based on the Solana ecosystem. The game allows users to earn native tokens and NFTs while playing the game as per merit. AURY acts as the in-game currency that enables users to buy items from the NFT marketplace that also directly benefits from the growth of the marketplace.
Find about more about Aurory here:
Source : solana.news
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