The NAGA Group AG, a German FinTech company listed on the Frankfurt Stock Exchange (ISIN: DE000A161NR7), has just announced its Token Sale event.
With the Token Sale, the company is to launch the NAGA Coin (NGC) with the aim to create a Blockchain-powered ecosystem for decentralized trading, investing and education in financial markets, virtual goods and cryptocurrencies.
Basically, NAGA wants to change the standards for all future token sales out there. With the number of token sales set to go over a thousand, NAGA wants to show the market that it is time to introduce something more transparent and secure. The fact that the Company IPO’d this summer gives all other ambitious projects a good example to follow. In fact, NAGA will be the first company to follow up a successful IPO with an ICO, all within the space of less than 6 months. Moreover, only 16% of all existing ICOs have an MVP or an existing product or platform. Thus, NAGA’s ecosystem will be based on SwipeStox, an existing iOS and Android app and online trading platform and social network for traders. In operation since early 2015, the SwipeStox trading platform is utilized by hundreds of thousands of registered users and today facilitates over 200 thsd. transactions each month with more than four billion USD transacted.
SwipeStox, which also offers open interfaces for other third-party brokers, is directly connected to NAGA Markets Ltd., a Cyprus based, CySEC-regulated brokerage firm and asset management firm within the group (former Hanseatic Brokerhouse Global Markets Ltd.) specializing in Forex and CFD trading.
NAGA’s second venture, called Switex, enables users to connect the financial trading world with the gaming world, by enabling them to trade in-game merchandise. Currently under development, Switex will be launched in beta mode in the first quarter of 2018.
Finally, NAGA will also launch a wallet that will unite both of those platforms. The tokens will be stored in the NAGA Wallet in order to enable people to use them for SwipeStox, Switex and other future platforms, such as the NAGA Trading Academy, as well as to convert blockchain assets such as Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), etc. NAGA also plans to introduce a debit card, allowing users to spend their cryptocurrencies in millions of online and offline locations worldwide.
Within the NAGA ecosystem, social media features (chats, channels, video and add server, follow and watch functions) are already prominent alongside a more traditional trading approach. Just like in Twitter, LinkedIn or Facebook, users can produce and share daily contributions free of charge.
Given all of the above, the new ecosystem will give everyone the ability to become a trader, with no need to cooperate with banks or brokers. Users will be able to trade stocks and forex with their NGC tokens, and (later) with no commissions involved. The token sale will allow users to tie their token to the NAGA stock. Given the significance that NGC weill play in the future NAGA ecosystem, the stock price is sure to increase along with the augmentation of the token price.
In addition, as the world´s first publicly listed company to move forward with an ICO, NAGA is going to initiate the Token Sale with a current capitalization of over 300 million USD and a fully functioning existing product (SwipeStox) just waiting to capitalise further on the tokens that will be created. Thus, this solid foundation gives users the chance to enjoy a more secure and attracting framework to participate in than those carried out by other companies in this field. This secure environment is further guaranteed by the company’s solidity given its numerous offices across major European countries, including Germany (2 offices in Hamburg), Spain (offices in Barcelona, Madrid, Valencia and Palma de Mallorca), and Cyprus (Limassol), as well as by more than 20,000 paying clients from over 100 countries. Not to mention the fact that NAGA’s share price has experienced a 500% rise in value since the IPO in June from €2.60 to currently €14.00.
The pre-sale will start on November, 20, 2017 (00:00 CET) and end on November, 27, 2017 (23:59 CET)
The main sale will start on December, 01, 2017 (00:00 CET) and end December, 15, 2017 (23:59 CET).
Visit their Website to find out more and to join NAGA’s Telegram channel.