Inite is closing the private sale round of $2.5m
PRESS RELEASE. Inite Pte. Ltd., the fast growing blockchain gaming startup that sets a goal of turning its users into «idea machines», is entering the market in 2022. The platform shapes an authentic NFT community, where users will generate ideas daily, upgrade their cognitive skills, make DAO clans, and earn tokens built on the NEAR protocol — INIT and IDEA.
With $1.5 million soft cap and $2.5 million hard cap, Inite Pte. Ltd. is going to sell 50,000,000 INIT at a price of $0.05 per token. By now the startup has already sold 6,000,000 tokens for $300,000. 10,000,000 tokens will be immediately available, the further 40,000,000 will be gradually unlocked within 2 years — 10,000,000 every six months. Next, 100,000,000 INIT will be put up on a public sale at a price of $0.15 per token and immediately unlocked. The total supply will never exceed more than 1,000,000,000 (one billion) INIT.
Founded in 2020 and located in Singapore, Inite Pte. Ltd. is going to become a market leader in the «play to earn» gaming and to develop a huge community of visionaries. To reach this goal, the startup integrates the technologies of its key partners, the Graph and NEAR Protocol.
Inite Pte. Ltd aims to build a customer-oriented ecosystem, where users will have opportunities to mint and stake tokens. INIT is a governance token and can be earned by users in challenges. The number of tokens is flexible and depends on players’ activity. IDEA token is an internal gaming currency that players can use to buy premium functions and equipment, and to reward each other for social activities.
Minting and burning depends on users’ actions within the gaming process. For example, tokens are minted when players generate ideas, and are burned when they purchase items. The amount of tokens for minting is 230,000,000, 23% of the total supply. The number of tokens for staking is 270,000,000 INIT, 27% of the total supply. Inite Pte. Ltd. will managed the fund only within the first steps of the prolaunch Later, we plan to transfer management to a DAO.
Mike Fluff, CEO of Inite Pte. Ltd. said: “Contemporary gaming is more than a part of the entertainment business. Nowadays it changes people’s minds and lives. Gaming feeds intellect, creativity, and physical bodies of players for they can switch to the play to earn mode and make a fortune. We contribute to this by providing players with contests and opportunities to support other users’ ideas with tokens. Additionally, we are working on further cooperation with IPOs.”
Andrei Ivanouski, CTO of Inite Pte. Ltd. described the product’s value: “Our key target is to create a metaverse where people will boost their cognitive skills, learn the ropes of positive thinking, upgrade their minds, and enjoy the supportive community. We want to make the popular concept of self-development real by teaching people how to look beyond the conventional and to accumulate dreams into solutions to global problems the world is currently facing. Next, we are going to upend the common misbelief that ideas and creativity cost nothing — in the epoch of NFT every promising concept will win recognition, find financial support, and turn into significant profit for the original creators, their investors, and for the whole community.”
About Inite Pte. Ltd.
Inite Pte. Ltd. presents a revolutionary game where players receive daily tasks to generate ten ideas. If users feel stuck, they can use Inite’s AI. Players share and discuss their ideas, make DAO clans, fight bosses, invest in other players, and earn tokens.
The headquarters of the company is in Singapore. Inite Pte. Ltd. is managed by a forethoughtful team of visionaries with over ten years of experience in blockchain, cryptography, and gaming