XBorg, the Web3 company developing a collaborative credential infrastructure that allows players to create their digital identity and enjoy tailored user experiences within enhanced gaming applications, sold out their $2 million seed round community allocation in record time.
The funds will facilitate the scaling and adoption efforts of XBorg’s infrastructure and applications to reach millions of players and fans worldwide.
Ahead of the raise, XBorg collected interest from more than 8,300 investors totalling $7M in soft commitments but decided to cap the community allocation at $2 million and maintain the remaining $3 million for leading VCs, closing out the $5 million seed round. The $XBG token, expected to be launched towards the end of 2023, is now sitting at a $50m valuation.
XBorg Founder and CEO, Louis Regis reacted: “Since day one, we have included our community in the development of XBorg as we believe that the future of gaming will be built by its players. Allocating a large part of our seed round to our community showcases our support for this notion.