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BitGuild raises $20 million in under six hours through ICO

Success comes just days after announcing partnership with decentralised content platform Tron

Decentralised gaming platform BitGuild has raised more than $20 million in under six hours via its initial coin offering.

The platform, which uses blockchain technology to give players ownership over their digital in-game items, was revealed just last week.

As reported by VentureBeat, BitGuild has sold more than 75% of its tokens - known as PLAT - through its public sale. In total, ten billion PLAT coins have been made available.

"The BitGuild token sale indicates a strong public interest and we are extremely excited that it is supported by both leaders of the blockchain and gaming industry all over the world," said BitGuild founder Jared Psigoda.

"In the grand scheme, gaming is still a young industry and giving gamers another level of pride and ownership of their in-game accomplishments is something we're very passionate about."

The successful ICO comes just days after BitGuild announced a partnership with Tron, a decentralised entertainment platform based on blockchain technology. The partnership will see BitGuild provide unique, limited edition in-game content for Tron users.

Ivy Taylor avatar

Ivy Taylor


Ivy joined GamesIndustry.biz in 2017 having previously worked as a regional journalist, and a political campaigns manager before that. They are also one of the UK's foremost Sonic the Hedgehog apologists.