Key Takeaways:
- Rainmaker Games recently completed the fair launch auction for its native token, RAIN.
- The blockchain platform also raised $6.5 million in seed round.
NEW DELHI (CoinChapter.com) — Rainmaker Games (RAIN) token has become the latest entrant to the blockchain gaming scene, with plans to become a central gateway for the play-to-earn (P2E) market.
The gaming platform held an auction for its native token $RAIN on Copper, a firm that helps financial institutions trade cryptocurrencies. The three-day Fair Launch Auction (FLA) kicked off on Friday, Dec 17, with a starting price of $1 per token.
An FLA is an auction that helps users participate in a fair, transparent, and democratic way. Moreover, the FLA would help Rainmaker Games establish its DAO with an engaged community. Rainmaker sold more than $17 million worth of tokens during the auction.
Also Read: Gaming token GALA now among the top 50 crypto assets following its 172% weekly gains.
The tokens were weighted using a 95/5 split, meaning 95% capital would be in RAIN tokens and 5% in stablecoins.
According to data from CoinMarketCap, the Rainmaker Games token has a fully diluted market cap of $922 billion.
Furthermore, the Rainmaker token is also listed on Uniswap and PancakeSwap. RAIN is also available on Relay Chain, where users can transfer their RAIN coin from Ethereum to Binance Smart Chain.
In early Dec, Rainmaker raised $6.5 million in a seed funding round led by Alameda Research, Animoca Brands, and CoinFund. Venture Capital firms participated with hopes of finding the next big find after Axie Infinity. The rising popularity of NFTs has also helped the blockchain gaming sector.
Rainmaker Games started as a guild, but now it might become a training gym and a talent scout.
What is Rainmaker Games?
Rainmaker Games is a P2E gaming platform that aims to bring together gamers, guilds, and games under a single umbrella. Moreover, players can join for free, making the platform a gateway for entry-level gamers.
Also Read: WAGMI, a new gaming token on the block amid growing P2E dapp popularity.
Rainmaker would help players and would-be players connect with guilds. In addition, free entry would help gamers with financial difficulties develop a passive source of income. Moreover, an increased inflow of players would benefit the overall crypto gaming industry.
Rainmaker offers various game formats with unlimited free contests to practice. The gameplay is based on simple online fantasy gaming principles.
RAIN coin was trading at $0.92, up 46% in the last 24 hours at the time of writing.
