Market maker DWF Labs has announced its plan to invest $12 million in FLOKI tokens, purchasing them from both the open market and the Floki treasury.
This purchase aims to support the growing ecosystem of the FLOKI project.
Floki is on track to release several new products soon, including the Floki trading bot and the .floki domain name and website service. Furthermore, their flagship utility product, the Valhalla metaverse game, will see its mainnet version released this year.
Did you know?
Want to get smarter & wealthier with crypto?
Subscribe – We publish new crypto explainer videos every week!
The collaboration between Floki and DWF Labs began in May 2023, with DWF investing $5 million in FLOKI tokens. Their latest purchase follows a similar investment in February when DWF Labs acquired $10 million worth of FLOKI tokens, leading to a 50% price jump within a week.
According to a blog post announcing the new purchase, DWF Labs’ contributions have boosted Floki’s adoption by enabling exchange listings, establishing partnerships with significant industry figures, and publicly supporting their progress and achievements.
Despite the announced purchase, FLOKI’s price has decreased by over 6% over the last 24 hours, trading at $0.0003 at the time of writing.
DWF Labs has also committed $10 million over two years to TokenFi, Floki’s sister project, which focuses on the development of artificial intelligence (AI) products.
The company’s investments and continuous support showcase a strong belief in the utility projects linked to Floki.
Floki has also recently been made more accessible to businesses in Europe, as it has been listed on Revolut Business.
Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.
