Bitcoin wallet Mycelium just announced a large scale upgrade to their wallet platform, which includes many new features and also a crowdsale for users to be able to buy shares of the company.
Mycelium said that they have been working in secret on their new wallet for over six months now, which may explain why recently they removed their iOS wallet from the App Store, so that it will align with their new wallet once it’s ready. In the new update Mycelium Product Manager Rassah said that their wallet platform will have it’s own API, which will allow third-party developers to tap into their wallet and build their own services on top of it. He also said that the wallet will soon support Glidera, which is a bitcoin exchange which other wallets have integrated with recently to allow buying and selling of bitcoins directly within the wallet.
The new wallet will also support multiple currencies and digital assets. Rassah said, “with the help of the plugin API architecture, anyone would be able to add support for any type of currency or asset, be it Litecoin, Doge, ColoredCoin, Ether, Factom, or personally issued assets like stocks, tickets, or hotel keys. We are uniquely positioned to have an advantage in this, because Mycelium already runs a set of highly optimized backend servers that handle and transfer digital assets. We plan to extend this backend architecture to support many more such assets.”
In what is one of the biggest changes to Mycelium, they said they are doing a crowdsale, which will let users participate in the growth and help the company along with development financing. Mycelium is selling a 5% non-dilutable stake in Mycelium (SAR) directly on the blockchain.
The crowdsale offer directly from their website states,
You get the share of Mycelium and the right to receive money whenever Mycelium gets more expensive. Let’s suppose that this time, with this crowdsale, it will be valued at 100 million USD. Imagine that when we sell another portion one year later it will be valued at 1 billion USD. So you will get 900 million USD multiplied by your portion (if you are the owner of 5% you will get 5% of 900 million = 45 million). Your initial investment stays with you: you keep owning this right and it is non-dilutable. The next 20% we sell will be dilutable.
Your portion is how much you invest divided by how much all participants invest altogether (during this round). And multiplied by 5% (that is the total share being sold). You guys all together will get 5%. No matter what.
This round of the crowdsale is the first one in Mycelium’s history. The round is open from May 1st to May 18th. You can register early until May 1st and get a 10% discount (you pay 1BTC, we calculate it as 1.1BTC).
It was also said that their future revenue will come from licensing and revenue sharing from third party plugins, as well as from services that Mycelium will develop (for example: Gear, Swish, Card, etc.).
In an even more interesting update, Rassah said that the wallet in the future will eventually be able to support the storing of fiat, which implies either that Mycelium will become an exchange or support exchange functionality to inter-operate with other exchanges [through the use of their new API]. In a new video Mycelium shows off the new wallet, which demonstrates how the wallet will be supporting USD currency natively in the application.
You can learn more about the new wallet by visiting wallet.mycelium.com.