After having raised over $1 million through private and public initiatives, Babylons private strategic funding rounds are now closed.
Funding Secured
Babylons secured $900,000 through a private funding round amidst a multipronged campaign approach. The team highlighted that they are backed by an elite group of Web 3.0 investors from around the world.
Initial public funding rounds have also gone well, the team confirmed on August 6th through an official Medium post. $150,000 has already been raised on TrustPad, with it even selling out with time to spare. Another funding round remains on ChainBoost, from which Babylons expect to collect a further $150,000.
“We are grateful to all of the investors that participated and for their tremendous support since our inception,” stated the Babylons team via their Medium page. “The trading volume of our community-driven ecosystem puts us sixth among all NFT marketplaces, and we’re confident this ranking will only climb higher when we launch our governance token.”
The group of investors features groups from around the world: SMO Capital of Hong Kong, Swiss Gem Investments of Europe, Everse Capital based in New York, Bitexen from Turkey, and GD10 Ventures of London. With a truly global backing, Babylon is set up well for its goal of world Non-Fungible Token (NFT) unification.
Native Token Set to Launch
$BABI, Babylons’ native governance token, is set to launch on ApeSwap on the 18th of August 2021. With backers and investors from around the globe, Babylon seeks to become a global meeting place to grow access to digital assets.
The deflationary fungible digital asset designates its owners as partial owners of the entire NFT marketplace who can vote on system upgrades, i.e., they obtain governance. Along with low-cost minting, Babylon hopes the community aspect will help grow the user base.
With community confidence gradually building and the funding rounds going to plan, the team has high hopes for the token release and will want to see tangible growth following initial promise and ‘elite’ backing.
What is Babylons
Babylons prides itself on being the first ‘truly’ community-owned NFT marketplace on Binance Smart Chain. They hope to build creative bridges between the virtual and real worlds. Their business model is described as being determined to inspire financial freedom, decentralized living, playing blockchain-based games, making arts, and meaningful social interaction. They launched their NFT marketplace on BSC mainnet at the end of March 2021 after building experience in arts, technology, and blockchain spaces.
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