The Flying Tulip project by the creator of Sonic raised $200 million in the initial stage

UnluckyLemur · 2026-01-13T08:23:17+00:00

André Cronjé, co-founder of Sonic, launched a new project called Flying Tulip, securing $200 million in seed funding without a lead investor. With an FDV of $1 billion, investor interest includes major funds. The project aims to raise an additional $800 million through token sales, introducing a novel "blockchain redemption rights" system allowing flexible return of initial investments.

UnluckyLemur

2026-01-13 08:23:17

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Co-founder of the Sonic platform, Andre Cronje, has introduced an ambitious new project called Flying Tulip, which closed a seed funding round of $200 million. Notably, the fundraising occurred without the participation of a lead investor, highlighting a broad interest in the initiative.

Valuation and Funding Structure

The fully diluted market capitalization (FDV) of Flying Tulip is set at $1 billion. The investor portfolio includes influential funds: Brevan Howard Digital, DWF Labs, CoinFund, and Republic Digital — each playing a significant role in accumulating the investment pool.

Expansion Plans and Innovative Mechanics

The team around Andre Cronje is not stopping there. The plan includes raising an additional $800 million through an open sale of FT tokens, which could significantly expand the project’s capitalization.

A key innovation for participants is the integrated “blockchain buyback rights” system. This mechanic offers investors flexibility — they can return their initial contributions at any time using liquid assets such as ETH. This approach challenges traditional notions of investment agreements in the blockchain sector.

ETH-1.57%

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