In a bear market, there are always dark horses appearing, stirring up market sentiment and making investors greedy.
DigiDaigaku is such an NFT dark horse. Free minting began on August 10. In just 20 days, its floor price jumped several times. On August 30, it had soared to nearly 16 ETH, an increase of more than 1,000 times.
DigiDaigaku went straight to center stage and brought to the surface the FreetoOwn model advocated by the team behind it and its founders.
4 reasons why DigiDaigaku is skyrocketing
According to Opensea, DigiDaigaku is an NFT collection of 2,022 unique characters developed by Limit Break, a company founded by world-renowned game designers Gabriel Leydon and Halbert Nakagawa. According to the style of painting, the NFT is a female anime type.
According to the public data on the chain, DigiDaigaku started free mint on August 10, and the gas cost is about 0.015ETH. In just 20 days, the floor price of DigiDaigaku has risen to nearly 16 ETH, an increase of more than 1,000 times .
Especially in the past two days, the floor price of DigiDaigaku has increased dramatically.
DigiDaigaku floor prices have skyrocketed, market analysis believes that there are four main reasons :
1. Limit Break, the parent company of DigiDaigaku, has raised $200 million through two rounds of financing , and the funds raised will be used to develop Web3 massively multiplayer online role-playing game (MMO) games;
2. The founders and investors of Limit Break have a luxurious background. Gabe Leydon, the founder of Limit Break, is the founder of the famous mobile game manufacturer Machine Zone. He has developed a number of best-selling games. Limit Break investors include many famous VCs such as Paradigm, Standard Crypto, FTX, Coinbase, etc., resulting in FOMO in the market;
3. Each DigiDaigaku NFT will be like a factory, and holders can continuously obtain more future web3 game assets , such as props or skins (such as DigiDaigaku will be airdropped on September 2);
4. DigiDaigaku has only 2022 NFTs, and there are only 744 owners . Due to the above reasons, there is a strong reluctance to sell .
New FreetoOwn mode?
The popularity of DigiDaigaku also brought fire to the new FreetoOwn model advocated by Limit Break founder Gabe Leydon.
Unlike other game companies that pre-sell NFT models before releasing the game, Limit Break is giving away genesis NFTs to fans for free. By giving away NFTs, you can turn your fans into the best advocates for an upcoming game, allowing fans to spread the word about the game in a viral way. These Genesis NFTs produce other NFT series through airdrops and more methods, and do not involve fundraising.
Limit Break CEO Gabriel Leydon tweeted on August 25 that DigiDaigaku will be airdropped on September 2, and 1 DigiDaigaku NFT will get 1 airdrop. More details and other progress of the airdrop will be released this week.
But it should also be noted that the F2O model is only free in the first link, that is, the creation of NFT, which seems to be little different from FreetoMint.
And similar to other NFT projects, DigiDaigaku NFT’s royalties are also 10%. At present, DigiDaigaku’s transaction volume has reached 6455 ETH, and its royalty income has already reached 645.5 ETH.
Who is Gabe Leydon? Where does FreetoOwn come from?
We note that the soul quest behind DigiDaigaku and LimitBreak is Gabriel Leydon. So who is Gabriel Leydon? Where does its appeal come from?
According to public information, Gabe Leydon co-founded Addmired with Halbert Nakagawa in 2008, and Addmired initially aimed to develop social applications. After Jobs released the iPhone in 2009, Addmired turned to mobile gaming.
In 2012, it was renamed Machine Zone . In the same year, Machine Zone launched the real-time strategy game Game of War: Fire Age, which became an instant hit. Subsequently, Machine Zone launched a number of best-selling games, such as the multiplayer online mobile game Mobile. Strike and mobile RPG adventure game Final Fantasy XV: A New Empire.
These games generated more than $4.5 billion in revenue from 2014 to 2018, according to Sensor Tower data. This made Machine Zone one of the most famous mobile game developers in the world, which was acquired by AppLovin for $600 million in 2020.
Gabe Leydon left Machine Zone in 2018 to explore the cryptocurrency space, but his initial attempts were unsuccessful. He’s back in crypto in 2021, when everyone is talking about the success of Sky Mavis’ Axie Infinity game and promoting the “PlaytoEarn” model. Sky Mavis was a hit, raising $152 million in October 2021 at a $3 billion valuation.
Many Axie Infinity “scholars” typically borrow money from guilds like Yield Guild Games to play the game, and sell their characters once the NFT becomes more valuable. But with fewer new players joining the game, the game’s economic model can feel like a Ponzi scheme, especially in the cryptocurrency and NFT winter.
Therefore, Gabe Leydon proposed the “FreetoOwn” model. Free NFT minting allows players not to start from debt, so that there is less incentive to sell NFT immediately to make money, and can hold game NFT for a longer time.
Of course, the vision of “FreetoOwn” and “players don’t sell NFTs” is beautiful, but the reality may be cruel, it still depends on the playability of the game itself and the ability to attract players.
Why do bosses and VCs invest?
There is no doubt that Gabriel Leydon’s huge financing from such a large VC is closely related to his previous successful entrepreneurial experience.
Currently, Limit Break has raised $200 million through two rounds of financing, led by Josh Buckley, Paradigm and Standard Crypto, with participation from FTX, Coinbase, Positive Sum, Shervinator and Anthos Capital.
It is reported that Limit Break has grown to 50 people, about 80% of which are former Machine Zone employees. The newly raised funds will be used to develop the Web3 MMORPG game.
Paradigm co-founder Matt Huang said in an interview with the media, “Web3 gaming has huge potential, but it is still misunderstood, especially in the field of gaming. Paradigm is happy to support Limit break to help realize this potential”…”Gabe , Hal, and the rest of the team are truly deep, orthogonal thinkers with a unique perspective on the potential of Web3 gaming. Their track record in mobile gaming speaks for itself, and we’re confident they’ll leave a similar legacy in Web3 imprint.”
Buckley said: “Gabriel is one of the best game designers and marketers in the world. He and Hal helped shape today’s mobile gaming industry, pioneering new design and marketing techniques that impact an entire generation of developers. Today there are more than 25 billion mobile gamers, and Limit Break has the opportunity to bring them into the crypto space. I’m excited to be investing in this round and supporting Gabriel and Hal in building Limit Break.”
“Gabriel, Ha are already legendary gaming entrepreneurs,” Standard Crypto’s Alok Vasudev said in an email. The Limit Break team pioneered free-to-play games — after years of research into crypto — they see the future of gaming as FreetoOwn….Cryptocurrencies transform the economic potential of game creators while transforming game lovers from consumers to owners of digital assets they control. This will incentivize and enable innovation like never before. An entire new economy and self-expression space will be created around crypto gaming. That’s why we believe that crypto gaming companies will be one of the biggest in tech and media, and we think Limit Break will be one of them.”
Clearly, top VCs are betting on a breakthrough brought by traditional game developers entering Web3 gaming.
Posted by:CoinYuppie，Reprinted with attribution to:https://coinyuppie.com/why-digidaigaku-has-soared-with-a-financing-of-200-million-us-dollars-and-a-freetoown-model/
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