Karma, a Los Angeles, CA-based developer of a decentralized smart community network, received a $300k in its pre-token sale.
Members of the Blockchain Investors Consortium (BIC) including Token-as-a-Service (TaaS) Fund, Krypton Capital and others wishing to remain anonymous contributed to the pre sale event. Together with additional contributions made over the past eight days of the pre-token sale, this brings the total close to the $5m goal for the pre-Token Generation Event (TGE).
Led by Mike Costache, President, Karma is advancing a decentralized smart community network which uses the Karma Protocol and Karma International Token (KIT) to empower membership-based communities globally, including physical member organizations, virtual member organizations, and nonprofit organizations.
Karma’s technology will allow these membership-based communities to efficiently operate and grow as well raise funds from their donor bases in the case of non-profits.
Individuals will use the Karma International Token (KIT) to vote on business items, membership, relevant dues, and purchases. The KIT will allow membership organizations to launch, manage, build and operate on the Karma Community Network (KCN) with customizable modules and necessary support.
Established in 2005, Karma is now sharing with the world its proprietary membership and event management platform, derived from 12 years of refinement, 65,000 platform users, 374 events and $32 million in revenue.
There are currently nine active membership chapters worldwide in Los Angeles, Miami, Las Vegas, Orange County, San Diego, San Francisco, Houston, Bucharest, and Kyiv, with plans for continued growth.