About a week has passed since the conclusion of the GG Token pre-sale and the start of trading in Uniswap. The GG Dapp team wants to take this opportunity to, once again, thank everyone who supported us, offer a recap of this key milestone and share our short term plans.
Level 1 — The pre-sale
Our pre-sale generated more than 300 ETH in a very short period of time but then it stalled at around 480 ETH, after a few hours. It then picked up again after the hardcap was lowered to 700 ETH and the softcap was achieved. We managed to reach the new hardcap in the third and final day of the pre-sale. Looking back we believe we were too optimistic when we defined the initial hardcap.
Level 2 — Uniswap listing
The fact that there was a slowdown in the rate of fundraising created doubt among the participants and (probably) this led to some token holders selling immediately for the 30% gain, as soon as the token was listed on Uniswap. As the demand was not enough to balance the supply, this led to the token price decreasing. We want to emphasize that the price decrease was solely a result of market action, a factor that the team cannot control, and not of a change in fundamentals.
After the listing we decided to lock almost all the tokens that were still controled by the team, bringing the total of locked tokens up to 93% with a circulating supply that is now around the 3 million.
A hard final boss at Level 2
The team shares the concerns of token holders, that were hoping for immediate returns, or simply for a higher price now. The team would naturally be also happier with a higher GGTK price now, it’s our most valuable asset. At this point the price is a reflection of speculation only, as there is no real demand for GGTK yet. The fundraise we did will allow us to build our platform, which will drive real demand for our token as it will be possible to stake GGTK, buy gaming NFTs with it, among other things. We are here for the long term and we are much stronger now but still, this is not possible to do overnight.
Meanwhile, until the platform is fully developed, we want to keep the interest in the project high and so we’re already in talks with agencies to define a short and long term marketing strategy.
In gamer language: Pre-sale was Level 1- It was not easy but we passed! Listing on Uniswap was Level 2, we got caught by the final boss, but we still have many lives to go and will pass this level too! Let’s all focus on the recovery and go for that Level 2 boss again, together!
Our plans for the immediate future
A) We are currently examining different marketing agencies to work with for expanding the reach of our project and for commencing professional short and also long term marketing strategies.
B) Until the end of the month we are releasing a new, improved Beta version of Pirates 2048, that we are developing in partnership with Matic. Central to this game is the concept of NFTs (Non Fungible Tokens). Players will be able to pick up from the sea different kind of NFTs: parts to upgrade their pirate ships, story items (art and messages from the survivors), pirate characters and tournament tickets.
There are several tournaments during the year and a Grand Tournament at the end of each year to find the true “Pirate Legend”!
C) During February we plan to release the initial version of Simthunder, our simracing assets marketplace, that we are developing in partnership with Cartesi, as one of the three teams selected for their Dapp incubation program.
In Simthunder sim racers will be able to sell relevant files related to virtual motorsports and also NFTs representing virtual car ownership and their parts too. Later there will be also a management game in parallel with private league racing (for example you can hire a real sim racer and than manage the budget of the team, be sure he doesn’t destroy too many cars!)
Pirates 2048 and Simthunder will be the first two gaming projects to be integrated in GG Dapp.
We’re still a small team but now with the possibility to grow. We believe 2021 will be great for crypto gaming, NFTs and for our project too. Thank you all again for you support!