While it is too soon to talk about exchange listings and price discovery, this recently airdropped crypto project surely has some awesome news: NagriCoin got a deal with Pecunio and will be listed in their VC fund.
What that means for NagriCoin is getting 1 MM USD of liquid assets for their project from Pecunio. The partnership is aiming at increasing the awareness about NagriCoin also among other people than cryptocurrency investors.
NagriCoin was first heard of thanks to its token airdrop for Telegram join starting March and ending May 2018. The NagriCoin initial token sale (ITO) ended on September 1st 2018.
Nargricoin / $NGR is a token of a blockchain project created on behalf of NagriTech, an Irish agritech company producing organic fertilizers. NagriTech is not building a fancy decentralized application, they decided to utilize blockchain only as a way to organize an IPO alternative. Investors therefore have a blockchain asset that is tied to a real-world business which is a rare strategy at this stage of blockchain technology business. Pecunio’s CEO Reinhard Berger mentioned this fact as one of the key reasons for closing the deal with NagriTech.
The token is backed by the revenue of NagriTech.
The company developed a plant nutrient formula that stimulates the plant growth and at the same time lowers the levels of harmful elements in soil. The target market for NagriTech’s proprietary plant nutrient are agricultural countries in Afrika and other emerging markets. The research and thorough testing went on for 7 years and costed 5 MM USD. At this point, NagriTech is a startup that is not yet profitable.
The company is going the blockchain way to facilitate a better relationship with investors.
Instead of an IPO, they went for a token offering so as to minimize the barrier of entry, cut down the admin costs of the IPO and establish a closer relationship with their investors.
It is also a very clever strategy to stand out and keep ahead, considering most token sales are in a fully digital realm.
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