DWF Labs to buy FLOKI worth $12 million from Project Treasury, Open Market
Floki is preparing to introduce newer products in the coming months, including the metaverse game Valhalla on its mainnet.
Cryptocurrency trading firm DWF Labs will purchase $12 million worth of floki tokens (FLOKI) from the open market and Floki treasury to support the dog meme currency-turned-utility project's growing ecosystem, the developer said. "B" from Floki to CoinDesk on Tuesday.
This follows a previous commitment to purchase $10 million worth of FLOKI tokens in February, which contributed to a 50% increase in FLOKI prices the following week. The trading company has facilitated listings on key exchanges and partnerships with industry participants, which has helped boost sentiment around the Floki ecosystem, B said.
Floki will launch the mainnet version of its flagship utility product, the metaverse game Valhalla, later this year, the developer said. In the coming weeks, Floki will also launch several key utility products, including the Floki trading bot and the .floki domain name service. DWF purchases will support the growth of these companies and provide necessary liquidity.
Floki first announced a partnership with DWF Labs in May 2023, when the trading company purchased $5 million worth of FLOKI tokens.
Earlier this year, DWF Labs committed to investing $10 million in Floki's sister project, TokenFi, over a two-year period to develop a suite of artificial intelligence (AI) products.
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