Announcing the CGU token sale on TimeX!

Announcing the CGU token sale on TimeX!

The token sale, which will be held on 18 October, will make 10 million CGU – the native currency of a new play-to-earn ecosystem for blockchain gamers – available to the community at $0.25 per token.

Over the course of the pandemic, gaming has ballooned to become a $300 billion global industry. As crypto has also gained traction, play-to-earn blockchain games have become increasingly popular, with the biggest titles like Axie Infinity now worth billions of dollars in their own right.

Crypto Gaming United (CGU) is an initiative that seeks to enable players in low-income countries to access the earning potential that these new games offer. By making NFTs available to players who could otherwise not afford them, the CGU DAO will increase earnings for these gamers, while enabling asset holders to generate their own revenues by charging a proportion of players’ daily income. To maximise earnings, CGU will offer courses, screen players, and recommend the most suitable games for them.

CGU token is the native currency of CGU DAO. A proportion of gaming revenues will flow into the CGU economy, and CGU will be paid as rewards to community members who complete tasks that are of benefit to the DAO and ecosystem.

Find out further details in the CGU White Paper.

CGU Investors

A total of 260 million CGU, or 26% of supply, has been reserved for investors, to ensure the project is adequately capitalised. Three funding tranches are being undertaken, with price rising for later supporters. To balance out these more favourable conditions, which establish the viability of CGU, early investors’ tokens will be locked and vested over a period of time to prevent flooding the market with supply. Two private sales and one public sale are being held:

  • A $5 million seed round at $0.027 per token. These CGU will be locked for 18 months, and then vested linearly over three years.
  • A second $10 million raise at $0.15 per token. Tokens are locked, with 30% being released when CGU reaches a market cap of $1 billion. The remaining 70% of CGU will be locked for one year, before being vested linearly over three years.
  • The public sale will sell 10 million CGU tokens (1% of supply) at $0.25 each. All tokens will be unlocked and can be traded immediately.

The TimeX launchpad

The public sale will be held on TimeX. Participants will be able to buy CGU at $0.25 per token for six accepted currencies:

  • USDT
  • USDC
  • BUSD
  • DAI
  • TIME
  • SLP

All of these currencies can already be purchased and traded on TimeX. Note: (List of currencies might change).

Community tokens

Those who are not able to participate in the public sale will be able to buy tokens from the open market afterwards. Additionally, 400 million tokens (40% of total supply) are reserved for distribution to the CGU community. Tokens will be dispersed over a period of at least three years, depending on the value of tokens and the number and activity of DAO participants.

For further information about the CGU token and DAO, read the White Paper.