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Danish-headquartered decentralized exchange (DEX) OpenLedger has received seed funding to the tune of Dkr11 million (c.$1.6m) from a group of Chinese, American and European investors after a recent tour of blockchain and cryptocurrency events in the U.S., China and South Korea designed partly to sound out and attract potential crypto investors.
The Pandrup-based exchange operator up in the north of Denmark plans to use these proceeds to “start immediate production” on four major projects, which will be split equally between the initiatives.
The names in the frame are eDEV.one (EDEV, JOYY), a blockchain-based freelancing platform, GetGame (REALITY), a platform for gaming, Apptrade (APPX), which creates portfolios of apps and has been dubbed the ‘Wall Street of Apps’, and OCASH, a new BitShares token representing an ‘all-in one crypto’ debit card solution.
The announced slug of seed capital comes following an Asian-U.S. Tour initiated by the exchange operator after it attended blockchain conferences in New York, Seoul and Shanghai.
Among other outcomes from this globetrotting led by the exchange’s CEO Ronny Boesing was the forging of a partnership with the first public blockchain in China, ViewFin, as well as an agreement to have OBITS, the official currency of OpenLedger, listed on two Chinese exchanges based in Shanghai - SZZC and Lhang.
Add to that Chinese ICOs and their tokens are to be added to the OpenLedger's DEX, which is designed for high-speed transactions. To date some twenty Initial Token Offerings (ITOs), Initial Coin Offerings (ICOs) and their tokens are supported by OpenLedger’s ecosystem.
Bitcoin concept coin with a one- hundred U.S. dollar bill. (Image: Shutterstock).
Investing In The Projects
ITOs for the above mentioned projects will be announced over the coming months, with funds raised from these crowdfunds being invested into the development of each project individually, while simultaneously allowing investors to participate.
At the end this month, OpenLedger intends to announce three individual sharedrop snapshots for OBITS holders who hold tokens related to eDEV.one, Getgame and OCASH. A sharedrop snapshot is where a picture of all Blockchain balances is taken at one specific time. In essence by holding an amount at that time, you are joining the sharedrop with it.
GetGame is claiming to offer “many different facets for both game creators and investors.” Its platform is based on “game-related ideas” with a focus on Virtual Reality (VR), Augmented Reality (AR) and any blockchain-based creations that can demonstrate a chance of success.
Before being accepted by the GetGame platform, each game must be validated, and agree to share 10% of their future revenue with GetGame ApS, and all its ITO token (REALITY and JOYY) holders.
Like Kickstarter, it is explained that each game can create their own profile where investors can start investing in games that they believe in.
“Each game will be given their own unique token that investors will be receiving in proportion to the sum invested. These tokens can be traded within the platform,” said Boesing.
eDEV.one is currently preparing for its pre-ICO stage this August with the platform slated to launch during the first quarter of 2018. Its mission is to help clients hire freelancers that suit the skills and requirements that are needed, while freelancers browse available jobs. Freelancers and clients agree on the terms of engagement, including the amount that a certain job is worth.
The eDEV.one ‘Escrow Milestone Payment System’ serves as a neutral third-party between freelancers and clients and is created on the base of a Smart contract.
OCASH, a new BitShares token that is currently held by early backers, plans to present what is claiming is the “first all-in-one debit card” at the end of next month, with its own customized app and website for people to sign up for the debit card.
It brings a major cards’ payment system to the OpenLedger and BitShares networks, thereby allowing token holders to use the world's only Stablecoins (SmartCoins) - including bitUSD, bitEUR, bitGBP, and Rubles - plus other OpenLedger tokens such as OBITS, bitcoin (BTC), and ethereum (ETH), to enable users to purchase items anywhere that accepts debit cards.
OCASH will be offered to all future ITO investors, with tokens expected to be available from early September 2017. Holders of OCASH will receive a monthly dividend based on a distribution model using “50% of the future revenues generated” according to Boesing.
Powered by the digital token APPX, OpenLedger's Apptrade, a start-up based in Santa Monica, California, and domiciled with an address in Denmark, creates portfolios, or groups, of apps, where if one of those apps becomes the next Instagram or Angry Birds, then the value of the portfolio rises. Well, that’s the theory.
“Each app portfolio is designed to ensure that every app included within it is supporting all the others through regularly scheduled updates, highly visible cross promotion, and a high standard of quality,” Boesing said.
He added: “App creators can launch a portfolio of their own, or join an existing portfolio, raising awareness and revenue for their applications.”
It is understood that OCASH’s new website is expected to be launched shortly and will provide additional information about the project.
Danish-headquartered decentralized exchange (DEX) OpenLedger has received seed funding to the tune of […]