- Kawaii Islands announced the date of its Initial Decentralized Offering (IDO).
- The IDO will go live on Polkastarter on October 12.
Kawaii Islands announced the news on Twitter and its official blog. In the statement, the Anime Metaverse gamifying DeFi mechanism stressed that its IDO would go live on Polkastarter — a decentralized protocol for launching new ideas on October 12. In addition, users can already start registering for whitelisting.
According to Kawaii Islands, the tokens will be listed at $0.03, with a total supply of 1 billion KWT, Kawaii Islands native token, which will become the main currency after the Beta release in October 2021. However, all tokens from the Alpha version will be stored in the Beta. This is to ensure that players do not lose progress.
Note that the KWT token is a crucial digital asset for Kawaii Islands. As a matter of fact, it serves many purposes. First, KWT works as governance. Secondly, it can be used as a reward, so players can use it to pay in-game fees. Thirdly, KWT tokens are also used to craft and buy things, skip waiting periods, or engage in events.
Expanding further, the Kawaii Islands team added that by completing Delivery Orders through the Leaderboard or selling and staking items, users would earn more KWT.
For instance, as blockchain gaming with a play-to-earn model is booming, Kawaii Islands claims to be the first Anime Metaverse on a large scale to create a simulation world for players to immerse themselves into it. As per the team, players can explore customization options. This includes decorating homes, crafting, styling their characters — also engaging in social networking, and more.
What is more, the team said that their Alpha version of their game uses a temporary AIRI token, a courtesy of Marketplace partner aiRight to help balance the overall economy.
Recently, Kawaii Islands sold out 2 presale events on September 15 and September 22 for 2100 Starter Packs of game item NFTs with the sold-out record of 6 seconds for 1 lot.
Additionally, just a couple of days ago, the team raised $2.4 million in private funding from angel crypto and blockchain investors like MapleBlock, Signum, AU21, SkyVision Capital, Master Venture, Polkastarter, Polygon, and others.