Initial Coin Offerings, or more commonly known as ICOs, is (currently) an unregulated way of funding digital currency campaigns that have been seeing continuous exposure in the limelight this 2017. However, despite all the rage that currently surrounds this platform, there are still naysayers that are particularly unimpressed, mainly because of companies launching an ICO only to have it not reach any of its objectives.
One such ICO that is currently turning everyone’s heads into its direction is the NAGA token sale. For starters, with an extremely successful IPO earlier this 2017, everyone expects this ICO to reach its objectives and possibly do more. Even as of writing, the stock is producing good numbers despite the usual volatility that is ever-present.
What is NAGA?
But the question is, what is NAGA? Mainly a Fintech company from Germany, the NAGA Group mostly has their field of expertise focused on making stock trading and virtual trading of goods easier for everyone. Having already launched a couple of trading platforms that has seen its fair share of success (SwipeStox and Switex, which is made for traditional assets and virtual goods, respectively), the group also aims to make their very own NAGA wallet, which is a digital wallet that lets users despite NAGA tokens (NGC) for use on their own platforms and any others that may be launched in the future.
By putting their NGC cryptocurrency onto their platforms, the team hopes to provide immediate control, access, and transparency onto their expanding user base. Traditionally, this power is given to large central banks like the US Federal Reserve or the European Central Bank. In addition, these global banks rule over the existing financial markets, leaving no space for small players to find their own footing. The NAGA group hopes to find an alternative for this by lowering the transaction costs for traders as well as let all platforms work in one decentralized currency. Once done, this move will make both fiat and cryptocurrencies converted to NGC, allowing for more flexibility for users and participants of the platforms alike.
One other advantage of using cryptocurrency to run these platforms is that NGC will be utilizing the decentralized nature of digital currencies, meaning there won’t be any separate entities like central banks involved. This will solve a lot of pains, like reducing transaction time, lowering costs, and escaping the ever-present red tape that haunts the industry. In addition, cross-border transactions will be much easier without the need to worry about monetary policies from making such payments.
So far, the group shows a lot of promise, having Blockchain expert Roger Ver added to their board of advisors, on top of a highly profitable IPO and two platforms that are seeing continuous growth.
Presale coming soon
The NAGA pre-sale starts on the 20th of November and will end on the 27th. Offering 20,000,000 NGC, the pre-sale will launch each NGC token for the low price of $1 each.