Kryptonite 1 is pleased to announce that the Company has taken part in the private pre-sale of the Bluzelle project (“BLZ”). The Company has invested USD443,040 for 4,724,794 BLZ tokens. The BLZ crowdsale successfully raised a total of USD19.5 million from investors including Kenetic Capital Limited. Kryptonite 1 has been involved in the project and supported the team since 2017.
Bluzelle is a decentralised, on-demand, scalable database service, for decentralised applications (“dApp”) which will be fast and low-cost to deploy. While the need for file storage systems is being served by the likes of Filecoin and Storj, dApp developers need data storage and management systems that are flexible enough to allow fast and simple data queries. The project is being managed by a technical team highly regarded within the decentralised community.
Kryptonite 1 is also pleased to announce that the Company has taken part in the private token sale of the Gibraltar Blockchain Exchange (“GBX”) platform. The Company has invested EUR167,364 for a total of 2,200,000 Rock tokens (“RKT”). The GBX is a subsidiary?of the Financial Services Commission licensed, Gibraltar Stock Exchange (“GSX”) and aims to be a world leading, institutional grade token sale platform and cryptocurrency exchange. Based on ideals of public consensus and trust, GBX’s rigorous listing process will strive to allow the community to flourish, whilst protecting participants by setting minimum levels of corporate governance and best practice guidelines, for issuers to follow.
Kryptonite 1 will become a sponsor firm, enabling the Company to advise token-based projects through the regulated process of listing on the GBX. The Rock tokens will be used to pay the sponsorship fees as well as providing membership privileges, voting rights on select community developments and early access to private presales. The RKT also serves as the medium of exchange and the utility coin that powers both the GBX and GSX ecosystems.
Kryptonite 1 has taken part in the capped public token sale of the Elastos project (“ELA”). The Company has invested USD173,882 for 12,800 ELA tokens. Elastos is dedicated to creating a brand new virtual, digital smart economic zone, based on the traditional basis of the internet. Elastos will extend and provide services for third-party applications through side chains and increase computing capabilities through cluster services. The design philosophy of Elastos originated in 2000, by Chen Rong, a former senior software engineer at Microsoft. Now in 2017-18 blockchain technology will be integrated into Elastos, enabling the development of the ‘Smart Web’.
George McDonaugh, Chief Executive Officer of Kryptonite 1 commented: “We continue to support projects we consider to be of significant importance to the evolution of the blockchain space. These projects bring deeply credible offerings and all have significant future potential. We believe that Bluzelle will become key database infrastructure for decentralised applications and the GBX will be a step change in centralised exchanges, with its regulatory framework and onboarding process.
The quality of projects we are seeing at the start of this year bodes very well for the token economy going forward. I am confident that Kryptonite 1’s growing reputation and track record places us perfectly to participate early, in the best the ecosystem has to offer.”
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