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Overview
BattleFly raised ~US$1.1m in February to underpin the development and launch of Seasons 1 and 2 of the game.
Funds were raised via the creation of 220 v1 Founders NFT in a heavily over-subscribed round.
We will shortly conduct a second Treasury raise, with the creation of v2 Founder NFTs.
90%+ of the funds raised will be added to and retained by the BattleFly Treasury and used to invest into the MAGIC and TreasureDAO ecosystem. The remainder will be used for Operational Expenses.
The BattleFly Treasury controls:
  • All non-market prices in the marketplace, including the starting price and liquidity of BattleFly NFTs etc;
  • Commission charges on various items sold within the in-game marketplace or other transactions;
  • The application of the Play to Earn rules that underpin the reward mechanisms.
  • All game rules, including new variations of gameplay that are created from Season 2 onwards.
Treasury funds will be held in $Magic, stablecoins and ETH, staked appropriately to optimize yield and preserve capital.
Treasury governance is incentivized to maximize the value of BattleFly by ensuring the development of a sustainable game supported by long-term investment.
Treasury will publish the holdings/balance sheet, along with the total number of BattleFly NFTs in existence on a regular basis.
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