WalletConnect Raises $10M in Four Consecutive Private Token Sales

The company plans to use the fresh capital to expand operations, grow its team and support ecosystem initiatives

Web3 wallet connector WalletConnect has closed four consecutive private token sales, raising a total of $10 million.

The first tranche, which was offered on Bitget’s Launchpad platform, reached its $4 million target in just two hours. According to the announcement on Friday, the round saw participation from over 40,000 investors who committed a total of $170 million.

The company also saw an oversubscribed CoinList sale with $15.5 million committed towards the targeted $4 million, while the $500,000 private token sale on Echo was also oversubscribed, selling out in 11 seconds.

On the other hand, the private sale conducted by WalletConnect Foundation raised $1.5 million from the company’s long-term supporters and strategic partners.

Commenting on the announcement, the WalletConnect Foundation told The Block in a statement: “The strong demand for the WalletConnect Token (WCT) underscores the growing need for seamless on-chain connectivity and a proven product market fit-centric token with real fundamentals.”

Overall, the sale attracted nearly 90,000 participants, further expanding the WalletConnect ecosystem. This follows an earlier airdrop, which distributed 50 million WCT tokens to 160,000 early adopters.

WalletConnect Foundation founder and director Pedro Gomes added, “As the Network scales towards full permissionlessness, our community is growing alongside it. In a space crowded with vaporware, people are rallying behind real projects with true utility. We’re excited for the next chapter in the WalletConnect journey.”

The company now plans to use the fresh capital to expand operations, grow its team and support several ecosystem initiatives, all for the benefit of developers, node operators and its strategic partners.

“As the network advances toward full permissionlessness, these resources will play a vital role in facilitating adoption and engagement, particularly as more of TradFi and the broader internet comes on-chain,” Gomes said.