Bitcoin.com has completed its private sale for the Bitcoin.com VERSE token. The fund is valued at $33,6 million and noted strong participation from key industry leaders, including KuCoin Ventures, Blockhain.com, BoostX ventures, MarketAcross and more. In addition, several thought leaders and influencers - including Roger Ver and Jihan Wu - took part in the private sale.
The Verse project is an extension of the growing Bitcoin.com ecosystem of cryptocurrency-focused services and projects. Verse will introduce utility and reward functionality through the VERSE token for users taking their steps in the crypto journey.
Bitcoin.com CEO Dennis Jarvis explains:
“Since 2015, Bitcoin.com has been a leader in introducing newcomers to crypto and guiding them along their crypto journey. So far we’ve built an incredible portfolio of products and services that count more than 4 million monthly active users and 30 million self-custody wallets created. Today, we’re proud to announce VERSE, a utility and rewards token for everyone who participates in the ready-built Bitcoin.com Verse ecosystem. VERSE is user-centric and adds tremendous value across our range of crypto products and services including the Bitcoin.com self-custody wallet app, the Bitcoin.com Exchange, the Verse DEX, Bitcoin.com News, and our upcoming crypto-enabled debit card. We’re also extremely excited to announce the Verse public token sale, which is scheduled to begin in June.”
The VERSE currency will reside on the Ethereum blockchain as an ERC-20 token, to be minted this summer. It is akin to CRO, BNB, and FTT, three key reward and utility tokens native to the Crypto.com, Binance, and FTX projects, respectively. Furthermore, several core VERSE functions share similarities to tokens or CeFi platforms such as Nexo and Celsius. as well as native tokens of decentralized trading protocols like TraderJoe or Uniswap.
KuCoin Ventures Chief Investment Officer Justin Chou adds:
The next wave of growth in crypto will be led by strong global brands that create real-world products for millions of people. Bitcoin.com will accelerate the development of products and partnerships that expand their reach globally.”
Digital Strategies Managing Partner Eric Weiss states:
“In our view, the utility of the Verse token in conjunction with the Bitcoin.com brand and broad suite of tools will create a powerful moat for its ecosystem. We’re thrilled to be part of this journey with Bitcoin.com and Verse.”
The Verse private sale has concluded, yet the public sale will kick off soon. The current goal is to let it begin in June 2022, allowing users to split six percent of the Verse total supply, or 12,6 billion VERSE tokens. The token sale will be the first project to launch on the Bitcoin.com Verse launchpad. That launchpad is designed to reach an audience consisting of both crypto enthusiasts and mainstream users.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.