XBorg, the Web3 company developing a collaborative credential infrastructure that allows players to create their digital identity and enjoy tailored user experiences within enhanced gaming applications, sold out their $2 million seed round community allocation in record time.
The funds will facilitate the scaling and adoption efforts of XBorg’s infrastructure and applications to reach millions of players and fans worldwide.
Ahead of the raise, XBorg collected interest from more than 8,300 investors totalling $7M in soft commitments but decided to cap the community allocation at $2 million and maintain the remaining $3 million for leading VCs, closing out the $5 million seed round. The $XBG token, expected to be launched towards the end of 2023, is now sitting at a $50m valuation.
XBorg Founder and CEO, Louis Regis reacted: “Since day one, we have included our community in the development of XBorg as we believe that the future of gaming will be built by its players. Allocating a large part of our seed round to our community showcases our support for this notion.
The widespread enthusiasm of our community in the current market conditions has exceeded all of our expectations and demonstrates their trust in our vision to disrupt the gaming and fan engagement industry.”
In the coming months, XBorg is launching its first application in partnership with some of the most prominent esports teams in the industry. The current Rocket League world champions, Team BDS, were the first team to be announced, with many more in the pipeline.
The XBorg app will enable players and fans to build their digital identity, meaningfully connect with their favourite gaming communities, and collect digital items with unique perks that unlock exclusive experiences. By the end of the year, XBorg aims to become the fastest-growing gaming credential infrastructure via its partnerships with tier-1 esports teams and popular gaming influencers.
Users can already create an XBorg account and get a taste of what their complete app will be like here. Users are rewarding early supporters of their ecosystem, so they should be sure to be active participants and refer their friends if they want to take advantage of this.
About XBorg
XBorg is developing a collaborative credential infrastructure that allows players to create their digital identity and enjoy tailored user experiences within enhanced gaming applications. XBorg is releasing its first application powered by its credential infrastructure, in partnership with the largest esports organisations in the world, to scale the adoption of its technology to millions of players and fans. XBorg is a spin-off of SwissBorg, a crypto wealth management application with over 750,000 users.
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