NFTs Gaming CEO loses 12% of startup capital through crypto trading | Crypto

NFTs Gaming CEO loses 12% of startup capital through crypto trading

– In April, Ragnarok, a crypto startup, brought in $15.5 million worth of Ether (ETH) for gaming development through its first-ever NFT sale.
– However, 0xfanfaron, CEO of Ragnarok, recently disclosed that he made mistakes by buying ETH multiple times when he thought it was an advantageous investment for the project, which led to $1.827 million in realized losses.
– To compensate for the trading losses, 0xfanfaron and another team member, Krimbo, have pledged to return a total of $850,000 worth of their compensation.
– 0xfanfaron has also published a list of wallets that will be used to compensate the firm’s trading losses.
– Ragnarok still has over $10 million in its treasury remaining and expects to launch its first game arcade within the next seven months.

NFTs Gaming CEO loses 12% of startup capital through crypto trading

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