Academic Labs, a Crypto Platform, Raises $300 Million in ICO

November 14, 2024 by No Comments

NEW YORK, NY, Nov. 13, 2024 — In the rapidly evolving world of crypto, a new player has emerged: Academic Labs, a pioneering crypto platform that has achieved a $300 million valuation at its initial coin listing (ICO).

The timing of Academic Labs’ initial coin offering (ICO) on November 11 (1111 – a lucky outstanding number) is impeccable. Kingston Kwek, founder of Academic Labs, a pioneering cryptocurrency entrepreneur from Singapore, has seen the company grow from zero to $300 million, an impressive start that represents just the beginning of a multi-year expansion. With a benchmark entry price of $300 million in market capitalization, the target market cap is projected to be at least $500-900 million, especially if the 2025 bull market is strong.

AAX as the Token Symbol

Just before the platform’s official launch in January 2024, Kwek made a bold move to rebrand the native token from $ACAD to $AAX – representing Achieve, Accomplish, Web3 (X). Following the rebranding, Academic Labs onboarded an additional 20,000 users and 3,000 daily active learners in its first week, growing to 100,000 community members by April and 250,000 community members today.

As the crypto market regained momentum in October, Kwek launched Wealth Academy, a trading education platform designed to enhance the utility of $AAX and expand the Academic Labs ecosystem. Following AAX’s listing in November, Kwek announced partnerships with notable GameFi and SocialFi ecosystems, paving the way for a more engaging and community-driven future.

What’s Next in the Future

Listing on Korean exchanges will be a key priority for AAX going forward, as this will immediately ramp up trading volumes. The plan is to first increase AAX’s presence among the crypto communities in Korea through marketing efforts, leading to its initial listing on mid-tier Korean exchanges, followed by Upbit or Bithumb, the larger exchanges.

About the Founder Kingston Kwek

At the helm of this promising crypto venture is Kingston Kwek, a Millennial-generation entrepreneur with a vision to revolutionize education through blockchain technology. Kingston Kwek’s journey to becoming a crypto entrepreneur began with a strong business background. Coming from a family of well-respected business owners spanning many generations, Kwek was exposed to business discussions from a very young age during family meals on a daily basis. His education at the Wharton School of Business, U.Penn, and Columbia University further equipped him with the knowledge and networks to succeed as a successful crypto entrepreneur and tech investor.

Recognizing the massive potential of crypto and its disruptive technology to transform internet products and empower users, Kwek participated actively in various DAOs and invested in a couple of crypto projects over the next few years. By 2023, Kwek was ready to turn his vision into reality. He partnered with Terry Tan, an experienced entrepreneur and guest lecturer in finance at universities in the UK and Singapore, to co-found Academic Labs. Their goal was simple yet ambitious: to create a learn-to-earn platform that would incentivize and democratize education globally. Under Kwek’s guidance as Chief Visionary Officer, Academic Labs quickly gained traction. Within five months of releasing their whitepaper, the team had attracted over 50,000 community members and secured cornerstone investments from notable VCs.

About Academic Labs

Academic Labs is the first EduFi ecosystem to enhance personalization and ownership in sharing knowledge and skills on Solana. The project focuses on using social and gamified elements of education to empower both learners and educators and foster growth together.

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