Umia token trades near $40M valuation after auction backed by Galaxy, DCG, and Draper Associates

Key Summary

Umia raised approximately $6.11 million through a public auction of its native UMIA token, which was backed by investors including Galaxy Ventures, DCG, and Draper Associates. The auction, which ran for seven days, priced the project at a fully diluted valuation of $18 million, but the market valued the project at roughly double that, resulting in an FDV of approximately $34 million to $40 million. The auction sold 17.3 million tokens, which represent 34.6% of the project's 40 million launch supply, with demand pushing the price to its ceiling of $0.36.