Bitcoin.com finalizes private sale of $33.6 million VERSE token

Bitcoin.com has announced that it has finalized a private sale of $33.6 million for the VERSE token attracting various participants including Digital Strategies, BoostX Ventures, Blockchain.com, KuCoin Ventures, ViaBTC Capital, 4SV, Redwood City Ventures, and certain individual figureheads and thought leaders, such as Roger Ver, David Wachsman, and Jihan Wu.

Verse to enhance Bitcoin.com’s crypto offerings portfolio

Verse will add to Bitcoin.com’s network of crypto offerings by connecting the VERSE token’s usefulness and reward elements to each step of the cryptocurrency experience for common people.

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Dennis Jarvis, the CEO of Bitcoin.com, stated:

Since 2015, Bitcoin.com has been a leader in introducing newcomers to crypto and guiding them along their crypto journey. So far we’ve built an incredible portfolio of products and services that count more than 4 million monthly active users and 30 million self-custody wallets created. Today, we’re proud to announce VERSE, a utility, and rewards token for everyone who participates in the ready-built Bitcoin.com Verse ecosystem.

VERSE could be minted for the first time in the summer as an ERC20 token and has been likened to BNB, FTT, CRO, the rewards and utility tokens for Binance, FTX offerings, and Crypto.com respectively. Some VERSE capabilities are similar to CeFi platforms such as Celsius and Nexo, and also typical decentralized trading systems like TraderJoe and Uniswap.

Jarvis added:

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. We’re also extremely excited to announce the Verse public token sale, which is scheduled to begin in June.

A public sale of VERSE tokens is expected in June

A public sale for the VERSE token is expected to commence in June 2022. It is likely that around 605 of the total supply of around 12.6 billion VERSE will be issued. The sale could coincide with the debut of the innovative Bitcoin.com Verse Launchpad, which will be available at the same time. At getverse.com, parties involved can learn more about the public auction and register for updates.

KuCoin Ventures Chief Investment Officer, Justin Chou commented:

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.