Developer “B” of Floki, a dog meme coin turned utility project, announced on Tuesday that cryptocurrency trading company DWF Labs will purchase $12 million worth of Floki (FLOKI) tokens from the Floki treasury and open market to support the project’s expanding ecosystem. The prior pledge to buy $10 million worth of FLOKI tokens in February—which helped cause a 50% increase in FLOKI prices the following week—comes after this.
According to B, the trading company has contributed to improve perception of the Floki ecosystem by facilitating important exchange listings and alliances with business partners.
The Valhalla metaverse game, Floki’s flagship utility product, will launch on the mainnet later this year, the developer announced. Floki is set to launch other essential utility items in the upcoming weeks, such as the Floki trading bot and the.floki domain name service. These projects will benefit from DWF’s purchases, which will supply the necessary funds and foster their expansion.
When the trading company bought $5 million worth of FLOKI tokens in May 2023, Floki first revealed a collaboration with DWF Labs. TokenFi, Floki’s sibling project, received $10 million in funding from DWF Labs earlier this year in order to develop a line of artificial intelligence (AI) products over a two-year period.