Cryptotramix raised $3.6 million through a private token sale

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Crypto Regulation
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CryptoTramix 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. CryptoTramix 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. CryptoTramix 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.

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Martyn Landi

Martyn Landi is a savvy blockchain content writer with about 5 years of experience. He helps crypto brands gain visibility by creating content with a tone, voice, and style that aligns with their vision and goals. When he is not writing or tweeting about cryptocurrencies, NFTs, web3, or metaverse, he is either cycling, watching movies, or reading other content.