Andre Cronje, co-founder of Sonic, has launched a new project called Flying Tulip, successfully raising $200 million in a seed funding round without a lead investor. The project's token has a fully diluted valuation (FDV) of $1 billion. Key investors include Brevan Howard Digital, DWF Labs, CoinFund, and Republic Digital. Flying Tulip plans to raise up to an additional $800 million through a public sale of FT tokens. All investors are granted an 'on-chain redemption right,' allowing them to redeem their principal investment at any time using assets like ETH.
Andre Cronje's Flying Tulip Raises $200M in Seed Funding
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