Bitcoin.com Raises $33.6 Million through Private Sale Round for its New Verse Token

What is Happening?

Blockchain Industry Leader Bitcoin.com Completes a Private Sale Round of USD 33,600,000 for its Native Token Verse.

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According to the announcement, Bitcoin.com has raised USD 33.6 million for their Verse token in a private sale round. The move links utility and rewards features with Bitcoin.com’s product offering, including the Bitcoin.com self-custody wallet app, the Bitcoin.com Exchange, the Verse DEX, Bitcoin.com News, and the upcoming crypto-enabled debit card. Bitcoin.com has over 30 million wallets created and over five million active users per month.

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Eric Weiss, Managing Partner, Digital Strategies, said:

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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.

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The recently conducted private round saw investments from big names such as Digital Strategies, KuCoin Ventures, Blockchain.com, ViaBTC Capital, Redwood City Ventures, 4SV, BoostX Ventures and agent investors and thought leaders including Roger Ver, Jihan Wu and David Wachsman.

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Bitcoin needs mass adoption amid financial markets turmoil.

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Native tokens are increasing virtual assets adoption…..

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:::info
Vested Interest Disclosure: The author is an independent contributor publishing via our brand-as-author program. Be it through direct compensation, media partnerships, or networking; the author has a vested interest in the company/ies mentioned in this story. HackerNoon has reviewed the story for quality, but the claims hereon belong to the author. #DYOR

:::

What is Bitcoin.com?

Since 2015, Bitcoin.com has been an international pioneer in introducing individuals to cryptocurrencies, providing easy-to-use, fully self-custodial solutions for buying, spending, trading, investing, and earning with bitcoin.

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Self-custody wallet application, Verse distributed exchange, and Bitcoin.com news are all current Bitcoin.com offerings. Crypto-enabled debit cards will soon be available from the company.

Why should the Blockchain Industry care about this?

There is no doubt that native tokens launched by industry heavyweights increase the adoption of virtual assets. Such tokens are being offered to an existing large base of crypto-friendly users with more than five million active users per month.

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Possible upsides for the blockchain industry when an established company launches tokens are:

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  1. Increase virtual assets adoption;
  2. Increase in awareness about virtual assets;
  3. Increase in utility for virtual assets;
  4. Trusted company launching a virtual asset leads to more user confidence.

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The Verse community already counts over twenty-five thousand participants on its social media communities. Launching native tokens by established brands is a trend set to increase the adoption of cryptocurrencies in the long run.

How This Will Impact the Blockchain Industry?

Global companies that provide real-world items for millions of people will lead the next wave of development in crypto. When it comes to developing new goods and partnering with other businesses, Bitcoin.com has a clear advantage due to its image and brand value as one of the oldest and most trusted companies in the blockchain industry.

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Unlike most other assets, Bitcoin has a fixed supply, a declining inflation rate, and a decentralized network managed by thousands of computers worldwide. Adopting Bitcoin and other virtual assets, including Verse, allows the industry to grow as the ecosystem increases due to renewed market interest.

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Increasing the awareness about virtual assets

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Late Monday, bitcoin’s price fell below $30,000 as the crypto market fluctuated. TradingView reported that BTC dropped to $29,825 before regaining some ground. Companies like Bitcoin.com launching Verse tokens to increase the adoption of virtual assets may also help the industry in the long run by introducing more users to the blockchain ecosystem.

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Many primary and long-term reasons promote the rising awareness of bitcoin. It has become a lot simpler for investors to hold and invest in bitcoin and other virtual assets from a legislative and practical point of view.

Final Thoughts on Bitcoin.com’s Verse Token

I know that native tokens are a no-brainer for crypto investors as they bring clout and are a trusted name in an industry plagued with rug pulls. As a crypto enthusiast, we all want the best for virtual assets, which means increasing adoption and awareness of the underlying investments in the long term to sustain the market and push the world one step closer to widespread Web3 requirements.

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Web3 adoption leads to increased decentralization compared to Web2 applications undergoing a heavy debate on “Free Speech” and “Censorship”. Increasing Web3 adoption is the move forward for the blockchain industry to ensure a free future for the next generation.

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Don’t forget to like and share the story!

Image credits: Aleksi Räisä and Dmitry Demidko.

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