Centive Technologies Corporation Declares $35 Million Initial Coin Offering
An internet and technology firm declared that it will carry out an initial coin offering for its incentive network which is supported by blockchain. Known as Centive Technologies Corporation, the company intends to restructure the motivation space, even as it seeks to raise $35 million in the venture.
Previously, the firm had announced that it had effectively won a private investment round, which it would utilize as it invests in high-tech advancement and distribution. Presently, the firm is ready to engage into a forward movement, through an Initial Coin Offering in order to raise the full amount of money even as it grows its commercial interests and eventually get new users.
The money raised will majorly be used to support the developing technological team as well as establish strong and user friendly platforms for users and businesses. According to the Centive Technologies Corporation company’s COO, Benjamin Ryu, blockchain is a very competitive industry and so there is need for the firm to get ready to invest so as to gain from the remunerations.
In as much as the crypto industry has seen a number of failed ICOs in the recent past, the firm intends to use a different monetization strategy in order to prevent pitfalls and realize some gains. Additionally, Centive will expand use cases and improve the usability of its virtual assets.