Australian NFT platform Balthazar raises another $2 million via token sale
Australian NFT gaming platform Balthazar DAO has raised additional funding through a private round of token sales, boosting the company’s valuation.
Balthazar will invest in talent acquisition
Striving to be the best NFT gaming platform available in the metaverse, Balthazar DAO has released yet another Private Round Token Sale, helping the company raise an additional $2 million. This resulted in the company’s valuation being increased to 60 million dollars.
So far in 2022, Balthazar has successfully raised a total of $5.6 million through pre-seed and token sales. First, the NFT gaming platform raised $600,000 via a pre-seed sale, and later added another $3 million through its first Seed Round Token Sale.
The equity investment funds that bet on Balthazar during the latest round include a long list of established private equity stakeholders such as Yolo Investments, Vendetta and Digital Asset Capital Management, among others.
Balthazar is playing it smart with plans to invest the money in bringing talent into its ranks. The company hopes to attract experts and software engineers, which will help it refine its software development kit (SDK), Babylon, and other cutting-edge technology such as a self-service wallet, which the company is currently working on.
Another area Balthazar plans to expand and invest in is the development of a system that will help individuals take control of their own assets without risking the loss of passwords or credentials.
So far, no company or other party has been able to offer such a product on the market, but Balthazar believes that they will soon be able to offer the necessary solution.
Balthazar CEO sees Web3 as the future of the gaming industry
John Stefanidis, CEO and co-founder of Balthazar, highlighted that Web3 is the future of the video game sector.
He tried to explain what Balthazar is trying to achieve and how the company positions itself in the gaming market: “We build technology that applies not only to the gaming space, but to the entire crypto industry. We are starting with games, to solve the problems of easy onboarding, account opening, in-game marketplace, peer-to-peer transactions, Web3 inventory management systems and real-time in-game chain transactions.”
Stefanidis further elaborated that Balthazar will also focus on solving problems related to password recovery that will allow expansion in sectors such as DeFi, for example, or other projects, which are currently not available or barely available to the users of Web2.
Stefanidis also emphasized that NFT games are developing at a very fast pace. The number of games entering the market is increasing, and so is the funding. Balthazar’s success is a good example of this.
