On Wednesday, the leading crypto industry firm, Bitcoin.com, announced it has concluded a private sale of its VERSE token and secured $33.6 million. VERSE is meant to bolster Bitcoin.com’s growing infrastructure by providing a utility token that rewards users for contributing to the Bitcoin.com ecosystem.
Bitcoin.com’s Private Token Sale Raises $33.6 Million
This week, Bitcoin.com revealed that it has completed a private sale of its VERSE token and raised $33.6 million. For over seven years, Bitcoin.com has been an industry leader when it comes to blockchain technology and cryptocurrency solutions. Bitcoin.com provides crypto exchange services, educational resources, a non-custodial wallet, and news. VERSE is meant to enhance the company’s growth by rewarding VERSE users for participating in the myriad services Bitcoin.com has to offer. Perks include rewarding the crypto community with VERSE for things like buying, selling, and swapping digital assets.
VERSE will be released this summer as an Ethereum-based (ERC20) token with cross-chain compatibility. Just recently, Bitcoin.com revealed the introductory web portal getverse.com and VERSE white paper, in order to give the crypto community details about the VERSE launch. On May 5, 2022, Bitcoin.com announced that it completed a private token sale and raised $33.6 million from firms like Digital Strategies, Blockchain.com, Kucoin Ventures, Redwood City Ventures, 4SV, and Boostx Ventures.
Furthermore, well-known crypto pioneers and influencers such as Jihan Wu, Roger Ver, and David Wachsman participated in the private VERSE sale. Dennis Jarvis, Bitcoin.com’s CEO, explained in a statement that the token will add a significant amount of utility and value to the firm’s multiple finely-tuned crypto services. Jarvis further explained that the VERSE token public sale will take place this summer.
“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,” Jarvis said after the private sale concluded. “Today, we’re proud to announce VERSE, a utility, and rewards token for everyone who participates in the ready-built Bitcoin.com Verse ecosystem.”
Bitcoin.com’s CEO added:
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.
Kucoin Ventures Exec Says ‘Next Wave of Growth in Crypto Will Be Led by Strong Global Brands’
VERSE tokens are similar to the likes of crypto utility tokens such as BNB, CRO, or FTT. In the Bitcoin.com ecosystem, VERSE users will gain utility from things like yield farming on the Verse DEX, trading via the Bitcoin.com Exchange, staking tokens in contracts, and earning VERSE from a variety of Bitcoin.com’s current services.
Justin Chou, the chief investment officer at Kucoin Ventures, believes the crypto industry will be bolstered by well-known and reliable brands. “The next wave of growth in crypto will be led by strong global brands that create real-world products for millions of people,” Chou said in a statement. “Bitcoin.com will accelerate the development of products and partnerships that expand their reach globally.”
In addition to the recent private sale, the public sale is scheduled for June 2022 and 12,600,000,000 VERSE tokens will be available. Bitcoin.com will release the Bitcoin.com Verse Launchpad, which will give visitors information about the public sale, and allow people to purchase VERSE. The getverse.com website offers a signup form for updates about the public sale and other information related to the VERSE token and ecosystem.
What do you think about Bitcoin.com completing a private VERSE token sale for $33.6 million? Let us know what you think about this subject in the comments section below.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.