CryptoPunt has closed its final fundraising round in a series of raises where extraordinary demand was exhibited for the CryptoPunt product. CryptoPunt carried out an angel round, a seed round, and two rounds of private sales with strategic partners being onboarded at each stage.
The latest private sale was no different, with participants that will contribute both capital and expertise to the success of CryptoPunt. CryptoPunt is building the next-generation of gaming and gambling decentralized applications (Dapps) and the team was thrilled to find stakeholders who share their vision that CryptoPunt can lead this field.
With private fundraising complete, CryptoPunt will allocate the funds to accelerating the development of their Dapp. CryptoPunt has identified key weaknesses with the incumbent blockchain-based gaming and gambling Dapps and has assembled an expert team to launch a radically improved product.
Gambling has always been a staple of blockchain technology and accounted for the biggest share of Dapp activity until 2020. With vastly greater capital, users, and activity taking place on blockchains after 2020, CryptoPunt is competing in an extremely lucrative market and each partner onboarded during private fundraising can help them successfully become a leader in this market.
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