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DeMons Pilot NFT Collection sells out in under 10 seconds, generating over US$200,000 in 24-hours

·3 min read

Earlier this month, DeMons' public fundraise recorded US$1.2M, total funds of ≈ US$6M committed.

SINGAPORE, Sept. 21, 2021 /CNW/ -- DeMons, a decentralised community-driven collectibles multiverse, sold out its genesis species of 100 exclusive hand-drawn "GodZilliqa" NFTs in under 10 seconds following its launch on September 18, 2021. Recording sales of over US$200,000 within the first 24-hours of launch, these yield-earning and gamified NFTs currently hold the record of the fastest-sold NFT collection on the Zilliqa blockchain.

DeMons: A rare collectible on Zilliqa
DeMons: A rare collectible on Zilliqa

A unique experiential multiverse, DeMons offers a first-of-its-kind, end-to-end financial ecosystem which provides a constant stream of real-world returns and rewards to its community. Unlike the typical buy and sell model used by other NFT marketplaces, DeMons collectibles can be lucrative when locked into the platform's DeFi yield generating tools. With the lines between the virtual and physical worlds increasingly blurring, DeMons provides users a trifecta of benefits: DeFi-based rewards, incentivised games, and utility-centric NFTs to create an engaging platform for collectors, investors, gamers, and traders alike.

Madhav Khandelwal, Founder of DeMons, said: "NFTs are reflective of a cultural movement that we're seeing today, imbued in the synergies of the gaming and crypto ecosystems. Yet, in spite of their popularity, people across the crypto and investment worlds now possess various NFTs in their wallets that they don't know what to do with. With the massive surge in play-to-earn concepts across gaming and crypto, I realised we had an unmissable opportunity on our hands — why not create an NFT world that provides constant returns for the user? One where locking in your token or NFT yields interests and can buy you gaming products or gives you voting rights within its virtual ecosystem."

DeMons is powered by DMZ — the utility and governance token which enables community members to buy, sell, and trade DeMons (NFTs) as well as vote within the DeMonVerse. Users can even gain additional returns by locking in their DMZ into liquidity pools on Zilswap, the Zilliqa blockchain's decentralised exchange.

Having successfully completed a private fundraising round which included investors such as like Zilliqa Research, Zilliqa Capital, OneBlock Capital, Switcheo Network, Block Wolves, Ignite, and Non-linear Research, DeMons later went on to hold a public sale of its DMZ token on September 6, 2021. In 45 minutes, DeMons completed its target raise with a total of US$1.2M raised, which was oversubscribed by 518 percent, totaling US$5.98M in total funds committed. The tokenomics breakdown can be viewed here.

DeMons strives to bring long-term, sustainable value to a highly-saturated space that has been largely driven by hype. This pilot collection is part of a larger DeMonverse, which contains five species and a total of 666 rare creatures. The species include GodZilliqa, CryptoApes, and CryptoMyths, with the two remaining species to be unlocked by the community through voting at a later stage.

About DeMons

DeMons is a gamified, decentralized, hand-drawn, collectible NFT series of 666 rare monster NFTs on Zilliqa Blockchain. It allows users to earn by holding the NFTs in their wallets while gamifying the NFT holding experience.

DeMons focuses on three main aspects of NFT Metaverse namely, DeFi, gamification, and democratizing rarity around NFTs. With a complete NFT ecosystem including its own governance portal, voting portal, and much more specifically created for collectors, investors, gamers & traders, DeMons is much more than just a regular NFT collection, giving financial strength to NFT holders.

With its own token $DMZ (governance and utility token), DeMons is set to reinvent the narrative around NFTs. The project DeMons include (but are not limited to): (1) Gamified NFT holding experience, (2) NFT name changing, (3) Proprietary NFT marketplace, (4) A voting portal, (5) Merch store.

Cision
Cision

View original content to download multimedia:https://www.prnewswire.com/news-releases/demons-pilot-nft-collection-sells-out-in-under-10-seconds-generating-over-us200-000-in-24-hours-301381292.html

SOURCE DeMons

Cision
Cision

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/September2021/21/c0276.html

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