VR startup Decentraland raises $25M in 10 seconds, announces partnerships

If you blinked at the wrong time you missed the Decentraland ICO.

The distributed platform for a shared virtual reality world announced today the launch of its ERC-20 token MANA closed in 10 seconds after raising $25 million USD of ETH.

“Decentraland is extremely grateful for the community’s support in making our token launch an incredible and immediate success,” project lead Ari Meilich said. “We are delighted to now increase our platform’s development and open our virtual world to collaboration from content creators all over the world. Decentraland also extends its thanks to those supporters who didn’t manage to participate and encourages them to take advantage of our other initiatives to earn MANA tokens, be it through our Visions Program or the continuous MANA issuance.”

Ari Meilich

Decentraland whitelisted an additional 1,500 supporters who have the chance to buy discounted MANA during a second round next week. Decentraland will protect the token from inflation by making users burn MANA to claim LAND.

“Bitcoin Suisse is pleased to have assisted Decentraland with their ICO and provided them with crypto-financial services,” Bitcoin Suisse AG CEO Niklas Nikolajsen said. “A world leading crypto-asset broker and wealth manager, Bitcoin Suisse AG was entrusted with the pre-allocation of the token sale to help ensure a subsequent, fair distribution of MANA tokens, as well as providing necessary AML/KYC services.”

LAND’s value is based on its proximity to high-traffic hubs and its ability to host popular applications. Decentraland’s partnership with district0x, a collective of decentralized marketplaces and communities, gives users the ability to trade land on the secondary market.

The asset distribution is 50 per cent for development, 20 per cent for research, 15 per cent for marketing and community development, 10 per cent for operations and business development, and five per cent for legal costs.

Strategic partnerships announced

Decentraland also announced a trio of strategic partnerships this week. Chinese wallet imToken by ConsenLabs will offer Decentraland tokens for purchase through the ICO Pro DApp and the digital wallet and let users join the virtual world from their mobile devices. Post-launch, Decentraland will be fully integrated as a DApp within imToken. That allows users to buy tokens through the wallet and trade them through the wallet’s asset tab.

“Decentraland has seen great interest from Chinese supporters and we are delighted that our partnership with imToken, the first Chinese Ethereum-based wallet, will enable them to safely participate via their PC, Mac, Android, and iOS devices,” Mr. Meilich said. “The partnership will also support Decentraland’s expansion into more markets due to the global popularity of the imToken wallet.”

Connext will allow supporters to buy Decentraland tokens with credit cards, while regulated financial service provider Bitcoin Suisse AG will offer KYC/AML services and a discount to purchasers.

INBlockchain Inc cofounder Xiaolai Li has joined Decentraland’s advisory board. INBlockchain is a venture-focused VC company.