Cryptonemix raised $3.6 million through a private token sale

by
Crypto Regulation
DCG and Barry Silbert hit with securities lawsuit 

CryptoNemix raised $3.6 million in a private sale of the VERSE token, The Block reports.

Digital Strategies, KuCoin Ventures, Blockchain.com, ViaBTC Capital, Redwood City Ventures, 4SV, BoostX Ventures, and Roger Wehr, Jihan Wu and David Wachsman participated in the token sale as private investors.

The company describes VERSE as an inter-network utility token and an ERC-20 standard management asset. CryptoNemix compares its features to the coins of the Crypto.com (CRO), Binance (BNB) and FTX (FTT) platforms.

The issuance will be 210 billion VERSE over seven years in equal batches.

15% of the tokens will go to the project team, 34% to the developer fund, and 35% is expected to go to incentive programs in the ecosystem. 16% of the VERSE issue is for sale.

The company's current products include a non-custodial wallet, a cryptocurrency exchange service and a news site. CryptoNemix has more than 4 million monthly active users and 30 million registered wallets.

As a reminder, projects such as NFT platform Quidd ($5 million) and Panther Protocol DeFi ($22 million) have used tokenseals to raise funds in recent months. In the first case, the sale was private, in the second - public.

Read more about

Jon Kelvey

Jon is a blockchain reporter skilled at synthesizing all crypto-related information to make articulate texts easy for anyone to grasp. With a beginners level certificate in Financial Analysis, Julius can read, interpret and report crypto findings to help investors exercise the best judgment in their decision-making process. When he is not caught up in the crypto frenzy, Jon likes playing a game of FIFA with his online buddies.