Citadel is set to unleash its aspirations for growth thanks to a recent $3.3 million seed funding raise.
In Brief
Citadel has successfully landed $3.3 million in seed funding, with 1kx taking the lead in orchestrating the funding round.
Blockchain gaming company Citadel The gaming startup has successfully secured $3.3 million in initial funding, led by influential firms like 1kx.
Several notable industry actors, including Hashed, Matchbox DAO, Ready Player DAO, and various angel investors, are supporting this venture. Shima Capital Their financial backing is expected to propel Citadel into its next stage of development, with the much-anticipated launch of Citadel 2.0 slated for November 14th. gaming firm Back in 2021, the Citadel team made a game-changing decision to leave their conventional jobs in favor of pursuing this venture full-time. Initially self-funded, this dedication has paid off handsomely with this recent investment influx, which they intend to reinvest into sustaining the company post-launch, ensuring the ongoing success of Citadel 2.0.
We're thrilled to announce that we've raised a substantial $3.3 million in seed funding led by 1kx, alongside contributions from Shima Capital, Hashed, Matchbox DAO, Ready Player DAO, and multiple angel investors!
Continue reading to discover our funding strategies aimed at building a decentralized universe.
— Citadel 2.0 — November 14th (@0xCitadel) November 7, 2023
Citadel's ethos revolves around creating a trustworthy ecosystem for founders and their communities, challenging conventional norms within the blockchain industry. The team's commitment to transparency is evident, planning to divert a minimum of 70% of the genesis mint proceeds straight to the decentralized autonomous organization (DAO) treasury, governed openly by the community. pic.twitter.com/3GBVrBXQm0
Citadel Founders’ Vision
In a groundbreaking departure from conventional funding strategies, Citadel plans to allocate all the funds from the genesis mint directly into the DAO treasury. This ensures complete control and transparency for the community, eliminating risks associated with misappropriated funds and highlighting the company’s promise to uphold its supporters' interests.
The recent influx of seed capital enables Citadel to chase previously unattainable goals, broadening their vision and expanding their team. Citadel 2.0 is positioned as more than just a game; it aspires to develop an innovative, player-driven universe that actively seeks out individuals who share its commitment to trailblazing advancements.
Gaming Journey with New Resources
With this strategic infusion of funding and a renewed focus on community-led development, the company is set to unveil more about its grand ambitions in the upcoming week. As they gear up for the launch of Citadel 2.0, the gaming community is buzzing with anticipation for this exciting new chapter. Web3 space.
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Disclaimer
In line with the Trust Project guidelines Nik excels as an analyst and writer for Metaverse Post, focusing on delivering cutting-edge commentary in the dynamic technology sector, particularly in AI/ML, XR, VR, on-chain analytics, and blockchain innovation trends. His engaging articles enlighten a diverse readership, equipping them to stay ahead in the rapidly evolving technological landscape. With a Master's degree in Economics and Management, Nik possesses a nuanced understanding of the business realm and its intersection with emerging technologies.
