Multiven, the developer of the world’s first blockchain-based marketplace for the global Information Technology (IT) hardware, software and services industry has substantially exceeded its €10 million initial coin offering (ICO) soft cap pre-sale target.
Having secured €15 million, this will be used to finance the Multiven Open Marketplace (MOM) decentralised application, which will enable private enterprise and government customers to buy and sell, new and pre-owned IT products such as servers, switches, routers, software licenses and IT services, on a peer-to-peer basis on the blockchain.
The MOM will become the global one-stop-shop for IT products and services, which will also reduce the costs of acquiring and operating internet and blockchain networks.
Purchases will be powered by smart contracts, with the Multicoin (MTCN), an ERC-20 compliant token, the only medium-of-exchange open to the global $3 trillion sector. Buyers and sellers will need to stake refundable Multicoins, which will ensure trust on both sides of transactions. The MOM is designed to be globally accessible, and unlike its major competitors, is tariff-free and offers an unprecedented immutable proof-of-ownership record.
Multiven takes no commission but charges a transaction fee, a portion of which will be used to write transactions onto the Ethereum blockchain. The balance will fund the cyber-defense of Bitcoin, Ethereum and other public blockchain nodes via the Multiven B-fence program, which launched last month.
“Going past our €10 million soft cap is a real milestone for us as we develop MOM,” says Peter Alfred-Adekeye, Multiven founder and CEO.
“We want to deliver something that adds value to the world and helps more people achieve their ambitions without being slowed down by expensive IT hurdles. We have already attracted an exciting client list including IBM, Capgemini, IKEA, Orange and Pepsi. We expect MOM to go from strength to strength as we move towards our full ICO in the spring of next year.”
The firm’s pre-sale is now in its third and final phase which runs until October 9, 2018.
Founded in Palo Alto, California in 2005, Multiven is the world’s first and only provider of independent and decentralised software integrity maintenance and cyber-defense services for all the blockchain nodes and hardware that make up the world’s internet networks.