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HomeBusinessRegulationBitcoin.com completes $33.6M private sale for its new VERSE token

Bitcoin.com completes $33.6M private sale for its new VERSE token

Andjela Radmilac

Bitcoin.com has completed a $33.6 million private sale for VERSE, its new ecosystem token.

In a press release shared with CryptoSlate, the company said that the Verse platform will link the utility and rewards features of the VERSE token.

Expanding the Bitcoin.com ecosystem with VERSE

Bitcoin.com saw huge interest in the private sale of its token, which saw participation from Digital Strategies, KuCoin Ventures, Blockchain.com, ViaBTC Capital, Redwood City Ventures, 4SV, BoostX Ventures, and select individual thought leaders and influencers including Roger Ver, Jihan Wu, and David Wachsman.

Set to launch in June this year, VERSE is a rewards and utility token for users who contribute and participate in the Bitcoin.com ecosystem. Bitcoin.com is a digital powerhouse in the world of crypto, spanning a web portal, news outlet, crypto wallet, and crypto exchange. The Verse ecosystem has grown significantly in the past several months and it currently counts over 25,000 participants combined in its vibrant Telegram and Discord communities.

“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,” said Dennis Jarvis, the CEO of Bitcoin.com.

The token will be minted in June as an Ethereum ERC-20 token and will resemble CRO, BNB, and FTT tokens, the company told CryptoSlate. Some features the token will enable can also be compared to the native tokens of CeFi platforms like Nexo and Celsius, as well as native tokens of DeFi protocols such as Uniswap and TraderJoe.

Jarvis revealed that the public token sale for the VERSE token is scheduled to begin in June. A total of 12.6 million VERSE tokens, or 6% of its supply, will be available for purchase. The sale will be the first token project launch on the new Bitcoin.com Verse Launchpad, which will be released simultaneously.

Verse investors seem eager to support further development of the platform. Eric Weiss, the managing partner at Digital Strategies, said that his company believes that the utility of the Verse token and the Bitcoin.com brand will create a powerful ecosystem.

“The next wave of growth in crypto will be led by strong global brands that create real-world products for millions of people. Bitcoin.com will accelerate the development of products and partnerships that expand their reach globally,” Justin Chou, the chief investment officer at KuCoin Ventures, said in the release.

Posted In: Adoption, Tokens

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