The NeuCoin Project, an Isle of Man-based developer of a digital currency to enable micropayments, raised $2.25m in funding.
Backers included Patrik Stymne, co-founder of Candy Crush Saga maker King, Rob Goldman, head of growth at Facebook, Emil Michael, SVP of business at Uber, Henrik Kjellberg, president of Hotwire.
Led by Dan Kaufman, Johan Sandstrom, Ophélie Pubellier and Scott Walker, The NeuCoin Project develops a new digital currency that aims to enable micropayments that are not viable with traditional currencies. It will be strategically distributed to all participants who help increase its utility, growth and value.
NeuCoin will roll out pilot micropayment platforms with three major content partners: MondoMedia, YouTube’s animation channel with over 2 billion views; Jango, an online music service with eight million monthly users; and RadioAirplay, an artist promotion company with 250,000 artists as customers. Consumers will be able to tip emerging musicians $0.25, pay $0.10 to watch a premium video, or pay $0.50 to avoid video ads for a month. With freemium distribution, consumers receive free NeuCoins to complete their first micro-transactions.
Three billion NeuCoins will be pre-mined and allocated to the foundations (83.3%), the founding team (6.7%), and the initial investors (10%). NeuCoin, an online wallet, a gamified consumer onboarding website and consumer cloud mining services, are all expected to launch in the spring of 2015. Prior to launch, NeuCoin will pre-sell 100 million NeuCoins to the crypto community, with all proceeds distributed among NeuCoin’s foundations.
Strategic advisors include Alex Norstrom, VP of growth for Spotify; Jackson Palmer, creator of Dogecoin; and Brock Pierce, serial entrepreneur and Bitcoin Foundation board member.