PlatoFarm is a blockchain and NFT game that runs on many chains and supports the ERC-1155 and HRC-721 token protocols. The game challenges players to harvest plants and raise cattle on a tiny farm in order to acquire MARK and PLATO tokens, which may be combined with other NFT goods to transform their desolate land into bustling towns. Players may even form their guilds and make money while playing the game.
As a player, your farmland may begin tiny and sparse. The project itself, on the other hand, is far from little. PlatoFarm has secured $1.8 million in its newest seed funding round. Some of the greatest names in crypto venture capital are among the top financiers, including Block Venture, one of the top VCs in Silicon Valley, and Chronos, a major Russian venture capital company. Cipholioop, Web4 Venture, OP Crypto, Formless, K&R Limited, ZBS Capital, and a few more VC companies have also joined the crowdfunding.
When you consider what the game offers and the novel way it’s taking to crowdsourcing the project via NFTs, there’s a legitimate reason for the hype. PlatoFarm will do this using an industry-first NDO.
Creating an IDO And the First-Ever Non-Governmental Organization (NGO) to Raise Even More Funds
PlatoFarm’s prospects are going to improve with the addition of $1.8 million to its coffers. An astonishing 220,000 people have already preregistered to play the game, and 70,000 Beta participants are already playing it. These users are located all around the world. While most of them are in the United States, Beta gamers are in Russia, Japan, South Korea, and Southeast Asia.
Add to that more than 50,000 Telegram users, 10,000 Discord users, and 17,000 Twitter users, and it’s clear that the imminent launch of an IDO on prominent decentralized exchanges will get immediate community support.
Anyone who has been paying attention to the crypto industry over the last year knows that IDOs can add millions of dollars to the market value of any new project. Still, PlatoFarm’s first-ever NDO takes things to a whole new level.
What Is an NDO, and How Will PlatoFarm Use It to Raise Funds?
An NDO is a new public fundraising tool invented by PlatoFarm’s creators, Second Space. It entails NFT asset transactions that generate tokens. The NDO will take place on the game’s official website, www.platofarm.game.
Using smart contracts, PLATO tokens will be added to a trading pool. When users trade NFTs during this NDO, the smart contract connected with the trading pool is activated, and PLATO token mining begins, offering them a substantially lower price on the tokens than if they began trading on the open market.
PlatoFarm is the first initiative to use this type of financing strategy to bring in a new age. What’s more, a portion of the event’s transaction fees and taxes will be returned to the project’s decentralized autonomous organization (DAO), allowing for the ongoing development and growth of the game.
The Community Gains Control of the NDO
PlatoFarm will abstain from a large portion of the NDO decision-making process. More experienced gamers and fans will be able to vote on whether the project should distribute over 200,000 PLATO tokens to users via three distinct trading pools of 30,000, 50,000, and 120,000 tokens, respectively. PLATO tokens will continue to be unlocked until the end of NFT trading.
The NDO launch will be announced on PlatoFarm’s Twitter account once users have had 24 hours to vote. Once completed, 2.5 percent of the NFT tax will be returned to the DAO to assist MARK and PLATO holders, volunteers, and passionate game participants.
With so much buzz around the project, PlatoFarm’s creators anticipate that all 200,000 PLATO tokens slated to circulate as a consequence of the NDO will need to be distributed to meet demand.
Expect the project to shortly debut on a massively prominent decentralized exchange, as well as an IDO/NDO coin launch that will make news across the cryptosphere.