Projects backed by Kaito Kickstarter see sharp FDV drop post-TGE

The majority of projects supported by Kaito's Kickstarter program have experienced a significant drop in their fully diluted valuation (FDV) following their token generation events (TGE), Wu Blockchain reported, citing data from CoinGecko. For instance, Web3 AI gaming company PlayAI (PLAI), which had a pre-TGE valuation of $50 million, now has an FDV of approximately $2.1 million. Similarly, Hana Network (HANA) has seen its valuation fall from around $40 million to its current $10.5 million. The report noted that other projects from the program are also trading at FDVs considerably lower than their pre-TGE levels.