The Nexo ICO
If you are keeping up with all of the latest ICO's you may have encountered the NEXO Token ICO launch.
NEXO is promoting its new service offering overdrafts with crypto currency.
First let's have a look at the details:
- Token: NEXO
- Platform: Ethereum
- Price (at ICO): 1 NEXO = 0.10 USD
- Soft cap: $20,000,000 USD
- Country: Switzerland
- KYC Required: Yes, Whitelist.
- Restrictions: China
They already seem to have a pretty strong Telegram following with over 50,000 members.
We also see some impressive advisors including Michael Arrington (the founder of TechCrunch), Trevor Koverko (The CEO of Polymath) and Ugo Bechis (A leading e-payments and SEPA expert).
Nexo claims to be the world's first SEC-compliant dividend paying, asset-backed security token.
Nexo is attempting to provide a solution to the problem of idle value in digital assets. Many people are holding digital assets which do not collect any type of interest, or dividends. Nexo's solution will allow these holders to obtain instant overdrafts in fiat currency by holding their digital assets in a specialized wallet. This can all automatically be managed by a smart contract.
The nexo token itself will offer early adopters the ability to get discounts on the service.
They also plan to offer a physical credit card (Mastercard branded) which would automatically and instantly grant additional credit.
There may even be some taxation advantages to this type of method since you are not selling your digital assets and then buying them back at a later time.
The Token Pre-Sale is intended to be finalized in March and the Main Token Sale should be finalized in April followed by a launch of the service.
If you are looking for a new ICO to invest in, this one may have a lot of future potential.
You can also find out a lot more information on their website https://nexo.io.
*The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a duly licensed professional for investment advice.