Bitcoin.com, an online cryptocurrency platform designed to introduce newcomers to cryptocurrency, said in a Thursday press release it completed the private sale of $33.6 million for its Bitcoin.com VERSE token.
The VERSE token is a rewards and utility token for users who participate within the Bitcoin.com ecosystem. Several high-profile entities participated in the private sale, including Digital Strategies, KuCoin Ventures, Blockchain.com, Roger Ver, Jihan Wu, among many others.
VERSE to be minted this summer
According to the press release, Verse will be minted this summer as an ERC-20 token. It is comparable to other utility and rewards tokens such as Crypto.com’s CRO and Binance’s BNB.
VERSE will also offer features that place it on the same playing field as Nexo, Celsius, and decentralized trading protocols like Uniswap and TraderJoe.
The native token is designed to expand Bitcoin.com’s ecosystem of crypto products and services. This marks a new milestone for Bitcoin.com which was founded in 2015 and boasts more than 4 million active users and 30 million self-custody wallets.
The VERSE public token sale is scheduled to begin in June. Six percent of the total supply (12,600,000,000 VERSE) will be sold. Interested investors can find more information on the upcoming launch at getverse.com.
Bitcoin.com CEO: ‘Tremendous value’
Commenting on the announcement, Bitcoin.com CEO Dennis Jarvis said:
“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.”
Digital Strategies Managing Partner Eric Weiss added:
“In our view, the utility of the Verse token in conjunction with the Bitcoin.com brand and broad suite of tools will create a powerful moat for its ecosystem. We’re thrilled to be part of this journey with Bitcoin.com and Verse.”
Justin Chou, KuCoin Ventures Chief Investment Officer also stated:
“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.”