Former Chain Game Star Project Wildcard's Post-TGE Market Cap Below $1 Million, with a Peak Single-Round Fundraising of $46 Million

BlockBeats News, March 27th: Former star-chain game project Wildcard, which once received a $46 million investment led by Paradigm, conducted its Token Generation Event (TGE) today at 1 am. The token was first released on Arbitrum, reaching a peak market value of $1.1 million after launch and is currently trading at $809,000. The token's liquidity pool is only $209,000, and the community widely questions the project's responsibility and potential "soft rug."

Public information shows that Wildcard founders Paul Bettner and Katy Drake Bettner have a strong background and have been involved in well-known game developments such as "Words With Friends" and "Lucky's Tale." In June 2022, Wildcard completed a $46 million Series A funding round led by Paradigm, with participation from Griffin Gaming Partners, Polygon, and other institutions. At that time, Wildcard announced the establishment of The Wildcard Alliance, focusing on developing the Web3 game "Wildcard" (a PvP game combining card, MOBA, and esports elements, based on the Polygon network and later expanded to Arbitrum, among others).

Subsequently, the project changed its roadmap several times, the project progress fell far short of expectations. However, the project still completed its latest funding round in June 2025: Thousands (an affiliated Web3 creator protocol/marketing infrastructure, a sister company to Wildcard) and the Wildcard Alliance jointly announced a $9 million funding round, co-led by Arbitrum Gaming Ventures and Paradigm. The announcement stated that this funding would be used to accelerate Wildcard game development, the Thousands protocol, and the Thousands.tv platform (a creator-driven user acquisition and live broadcasting system).

However, with the cooling of the cryptocurrency market, the game and platform did not gain as much popularity as expected. In this scenario, the project chose to conduct a TGE, naturally failing to attract funding support, and not even getting listed on any top-tier CEX.