"WalletConnect Raises $10M in Token Sale, Fueling On-Chain Connections"

The WalletConnect Foundation has successfully raised $10 million in funding through a token sale, according to a recent announcement. The foundation, which aims to facilitate seamless on-chain connections, conducted the sale on the Bitget LaunchX platform, CoinList, and the Echo platform founded by crypto trader Jordan Fish (aka Cobie).

The Bitget LaunchX community round raised $4 million in funding within two hours, with approximately 40,000 investors committing over $170 million, far exceeding the allocation. The community round on CoinList was also oversubscribed by four times, attracting 18,000 participants from over 100 countries. Investors pre-committed $15.5 million, well above the $4 million target.

The private sale conducted on the Echo platform reached its $500,000 goal in just 11 seconds. The sale was led by a team called Tea Club. The strong demand for the WalletConnect Token (WCT) highlights the growing need for seamless on-chain connections and a token with real-world utility at its core.

The foundation stated that the successful token sale demonstrates the growing interest in the WalletConnect ecosystem and its potential to revolutionize the way users interact with blockchain networks. The raised funds will be used to further develop the WalletConnect protocol and expand its reach to more users and developers.