Centive Technologies Corporation Announces US$35 Million ICO - The Low Down on Centive
Centive Technologies Corporation Announces US$35 Million ICO
#Centive (XTV)
FOR IMMEDIATE RELEASE: 30th August 2018
Internet and technology company chooses ICO route to achieve rapid growth strategy
Singapore : Today, Centive Technologies Corporation, an internet and technology company that are making moves to “reshape the incentive industry” announces that it will conduct an Initial Coin Offering (ICO) for its blockchain-based incentive network, to the tune of US$35 Million. The ICO will kick-off on 31st August 2018.
Centive Technologies Corporation had previously announced it successfully closed a private investment round, which it used to invest into technology development and deployment. Now it believes that it is ready to move onto the next step — an Initial Coin Offering (ICO) to raise the full amount it needs to grow its business and gain new users.
“The funds will be mainly used to support our growing technology team, and to build powerful and easy to use platforms for businesses and consumers. As you know, blockchain is a competitive industry so we need to be ready to invest to reap the benefits. Our ICO investors might like the idea that Centive’s ecosystem and platforms will be exclusively transacting using Centive tokens”, said Benjamin Ryu, COO of Centive.
While the industry has seen many failed ICOs in 2018 alone, Centive cites its monetization strategy, burn-rate management, and significant experience in venture building will help it avoid pitfalls, turn a profit, continue expanding use cases and improve the usability of its tokens — which it believes as its fiduciary responsibility.
About Centive Technologies Corporation: Centive Technologies Corporation is an internet and technology company with presence in Singapore, and operations around the world. Founded in 2018, it is helmed by executives formerly from Rocket Internet, Alibaba, and ad giants in Europe. For more information, visit centive.org
PR contact person:
Chong Siong
Centive Technologies Corporation
https://centive.org/cdn-cgi/l/email-protection
Originally published at centive.org on August 30, 2018.
The Low Down on Centive
Thanks to a supportive community, our following have been growing exponentially. We originally designed our deck, and 1-pager to be bite-sized so anyone can read and understand. However, we feel compelled to provide a proper low-down for everyone’s benefit.
The primary problems we are looking to solve :-
Inefficient data collection by many advertising platforms, to the detriment of businesses who rely on such information
Advertising process is largely inefficient, and consists of too many middlemen (which also explains the high price)
Community largely ignored. Social media platforms do not reward their community
General lack of adoption of blockchain-based products/platforms by value creators (businesses, genuine customers) , either due to regulations or products that are not user-friendly
How we solve the problem:-
Build a profitable business that is sustainable; to ensure token holders that the ecosystem will be there in decades to come. It is too risky NOT TO build a sustainable business since ICO fund raising can only be done once
Make awesome products that people want to use
Drive adoption through multiple use cases, and product life-cycle management
All these are made possible mainly with an experienced, proven team.
Challenges:-
Not raising enough
Future goals:-
To build an all-encompassing lifestyle and media platform, using exclusively Centive tokens. We envisioned over 30 use cases (and growing) eventually, but we need to only start with a few that works, and quickly become profitable.
https://centive.org/
whitepaper: https://s3-ap-southeast-1.amazonaws.com/centive/Centive_Whitepaper_Official.pdf