Global Blockchain Mining Corp (CSE:FORK) (OTCMKTS:GBCHF) said Monday that the crowdsale it is handling for Nuvo Cash Ltd, is shifting to the Singularity Exchange to enable it to tap into a larger number of digital asset types.
Singularity Exchange, according to Global Blockchain, supports Bitcoin and Ethereum, as well as 22 other crypto assets, including Loki. Ripple and Steem. The crowdsale was to begin at noon EDT today and remain live until 11:59 p.m. EDT on May 17. Those who participate in the first calendar week, up until noon March 25, will receive a 20% discount on the price of NUVO tokens.
Shares of Global Blockchain Mining advanced C$0.005 to C$0.01 in Monday's Canadian trading and fetched US$0.0058 on the OTC Markets.
In December 2018, Global Blockchain Mining announced that it had been appointed to administer a crowdsale for NUVO, a proprietary crypto asset of UK-based Nuvo Cash, for use on blockchain-based social media networks that are underpinned by Nuvo Cash technology such as Jamaa.
Initially, the NUVO crowdsale was to be held on Paperstreet, a platform operated by San Francisco-based Paperstreet LLC, which participated in Techstars '19, working closely with Global Blockchain Mining President and CEO Shidan Gouran.
Nuvo Cash, according to Global Blockchain Mining, decided instead to use the Singularity Exchange because it supports more types of digital assets for payment. Paperstreet supports crowdsale payments made by Bitcoin and Ethereum only.
NUVO tokens will have a list price of US$0.0025 (one-quarter of one US cent or 400 NUVO tokens to US$1) in any supported currency.
"We are very pleased with everything that FORK has done for us to date, in bringing NUVO and its associated technologies to fruition,” Nuvo Cash Managing Director Irfan Hussain said in a statement.
Gouran said he agrees with its client’s decision, “given the initial feedback we have received from participants,” adding that Global Blockchain Mining plans to use Paperstreet in other clients' crowdsales.
He noted that there are more than 2,100 cryptocurrencies right now, with Bitcoin and Ethereum making up more than 61% of the market capitalization.
Contact Dennis Fitzgerald at [email protected]