Play-to-Earn (P2E) game Tamadoge is conducting one of the fastest fundraises seen in crypto this year, completing 70% of its presale by securing $10 million from eager investors in less than a month.

At the time of writing $10.62 million has been raised, beating the $9.2 million raised by move-to-earn NFT app STEPN on Binance Launchpad and in its private sale. FTX was a major contributor in the private sale.

In the current (sixth) phase of the Tamadoge presale, which will be closing soon, the TAMA token is priced at 1 USDT to 44 TAMA. When $10.75 million is raised, the token price goes up to a rate of 1 USDT to 40 TAMA in what will be the seventh phase of the presale.

USDT is the ticker of the Tether stablecoin, so called because its value is held stable by being pegged 1:1 against the US dollar, backed by cash and cash-equivalent reserves.

It has taken less than a month for the TAMA token sale to raise $10 million. From the point of view of the project developers this is a much more efficient way to solicit funds from investors than the venture capital route.

From the perspective of investors it is also a more transparent and open process than the venture capital and private equity route that dominates early stage investments and excludes those with relatively modest sums to invest.

Seven-hundred million tokens have been sold from a total of 1 billion available in the presale, with the price rising for each successive token tranche. TAMA’s total supply is 2 billion.

There are less than 30% of presale tokens left for purchase, with the allocation draining fast.

Tamadoge sold for 1 USDT/100 TAMA (1 TAMA = 0.01) in the initial beta sale phase, in which 200 million tokens were sold. Several tranches of 100 million tokens have