AInvest Newsletter
Daily stocks & crypto headlines, free to your inbox
Web3 Gaming Ecosystem Slingshot DAO Raises $16M in Latest Funding Round with Upcoming SLING Token Launch.
ByAinvest
Monday, Mar 17, 2025 1:07 pm ET1min read
Slingshot DAO has raised $16 million in its latest funding round, led by notable Web3 investors, to expand its gaming ecosystem. The SLING token is set to debut, with increased trading activities expected on blockchain platforms. This funding boost reflects growing investor confidence in community-driven game creation and monetization.
The decentralized autonomous organization (DAO) behind the gaming ecosystem Slingshot has successfully raised $16 million in its latest funding round, according to reports. Notable Web3 investors led the round, reflecting growing investor confidence in community-driven game creation and monetization [1].Slingshot DAO, which operates the NFT bidding platform PartyBid, has been funded primarily by its members and on-chain revenue until now [1]. This limited focus prevented the organization from pursuing its goals with the necessary resources. However, the new funding will enable Slingshot DAO to expand its reach and pursue its objectives with greater vigor [1].
The funding round, which showcases the continued interest in NFT fractional ownership, was led by Andreessen Horowitz (a16z) and included participation from Standard Crypto, Compound Crypto, Dragonfly Capital, Uniswap Ventures, and Loot creator Dom Hofmann [1].
The funds raised will be allocated to various initiatives, including building leading embedded payment, card, lending, and crypto solutions, investing in people and communities, and continuing international expansion plans [1][2].
In addition to Slingshot DAO's successful funding round, other DAOs are also experiencing growth, with treasuries currently exceeding $10.2 billion [2]. This trend underscores the potential of decentralized autonomous organizations to transform the way we create, manage, and monetize digital assets.
References:
[1] Aaron Limbu. PartyDAO Raises $16.4 Million Led by Andreessen Horowitz. Blockchain.news, 5 May 2022, https://blockchain.news/news/partydao-raises-16.4-million-led-by-a16z.
[2] Decrypt. Total Investment in SyndicateDAO Tops $28 Million in Latest Funding Round. Decrypt, 5 May 2022, https://decrypt.co/99273/total-investment-syndicate-dao-tops-28-million-latest-funding-round.
Ainvest News articles are AI-generated using advanced large language model (LLM) technology designed to analyze and synthesize publicly available data and news. While AI tools assist in producing initial drafts and insights, all AI generated content published on Ainvest is subject to comprehensive human editorial review before publication. A designated human editor reviews, verifies, and approves each article for factual accuracy, coherence, and compliance with AInvest Fintech Incβs editorial and disclosure standards.
Despite these review procedures, the information provided may still contain inaccuracies, incomplete data, or time sensitive references due to the inherent limitations of AI generated analysis and evolving changes. The material is provided strictly for informational and educational purposes and does not constitute personalized investment, legal, or financial advice. Readers should independently verify all facts, figures, and statements before making any decision based on this content.
AInvest Fintech Inc. its affiliates, and partners accept no liability or responsibility for any direct or consequential losses arising from reliance on this content. All articles and analyses are subject to revision, update, or removal without prior notice to maintain accuracy and integrity in our publications.
Comments
ο»Ώ
No comments yet