NAGA Group launches the first centralized exchange for virtual goods and financial instruments, NAGA Wallet. With NAGA Coin ICO - nagaico.com - the Naga team aims to establish the world's first crypto-gateway to trade financial instruments and virtual goods in a secure and transparent way. When is the Naga coin sale?
6 November, AtoZForex – The company behind the social trading app SwipeStox and Switex, NAGA Group, is preparing a token sale. The company is listed on Deutsche Börse and since the date of listing, company’s shares have grown impressively – more than four times. That makes 400% in just a short time span.
NAGA Coin ICO - the first centralized exchange for virtual goods
In fact, presently, the company is in the process of preparing the NAGA Wallet. The new development aims to unite the firm’s two current projects into a single ecosystem. Moreover, the firm looks into linking the wallet to leading crypto-exchanges. The NAGA Group also aims to enable the conversion of fiat money and cryptocurrencies into its custom NAGA Coin.
SwipeStox won the best social trading platform award during the AtoZ Forex awards last January. The project has shown particularly strong results since introducing its robo-advisory service in September. Meanwhile, NAGA Group looks into targeting millennials with Switex. In fact, this exchange focuses its efforts on delivering a centralized marketplace for virtual items from computer games.
Following the Naga Coin ICO, the NAGA Wallet will serve as an ecosystem for the social trading of cryptocurrencies, stocks, Forex pairs, and virtual goods. One of the key ideas behind this groundbreaking project is to eliminate the scam in virtual assets market.
As a matter of fact, virtual goods market is a large marketplace. However, there is no centralized exchange for this purpose - yet. This is indeed where the Naga wallet and Naga coin fits in. Via the Naga wallet and Naga coin NGC gamers, traders and developers and securely and transparently pursue business without worrying about the security of their transaction.
NAGA Coin ICO Information
The NAGA Group is planning to sell 220 million NAGA Coins, NGC. The company is planning to offer 55 percent to the public, while no additional tokens will be created after the NAGA ICO takes place.
The NAGA Coin is an ERC-20 based, with its cost standing at $1/NGC and a token sale volume up to $220 million.The first $20 million worth tokens will be distributed in a pre-ICO, which takes place on the 20th November with a 30 per-cent bonus. Another $200 million worth tokens will be distributed in the primary token sale that will start on the 1st December. The Naga Coin ICO token sale will last for 15 days.
Naga coin ICO investors can use any ERC-20 supported wallet to get their NGCs deposited. The following are some of the ERC-20 compatible wallets:
Furthermore, NAGA Group is committing 50 percent of the proceeds to marketing. Another 30 percent will serve for the tech development and 10 percent will go for the legal and compliance requirements. The remaining 10 percent will be dedicated to business development.
The company plans to deploy NAGA Wallet on the 20th of November. Users can buy tokens by using other cryptocurrencies or fiat.
Naga coin ICO finances
AtoZForex.com team managed to get some insider information about the initial Naga coin backers. We have seen messages from a major Venture Capital firm top management indicating full support for the Naga ICO. Additionally, we have noticed mainstream interest by leading Cryptocurrency investors. A leading US based Crypto Fund is also closely following the project. We will try to communicate to the Naga group team to get more information about the project and early supporters.
AtoZForex Naga Coin ICO review
When we look into Naga Coin ICO review, we can ignore a major fact about Naga Group that they have an existing profitable business. We are talking about Swipestox. The project has multi-billion monthly volume, way ahead of its competitors.
Naga Coin ICO team is also very strong. We can see Yasin Qureshi supporting the project. They have also strong list of advisors.
Demand for a trustworthy virtual goods marketplace is another major point for the Naga Coin ICO. While, teens and overall gamers spend millions of dollars per month for in-game purchases, there is no one central marketplace, nor any regulator for this market, at least not yet! Thus, bringing a blockchain backed marketspace for such market will bring strong demand for the Naga Coin, from our perspective.
Furthermore, the virtual goods marketplace platform, Switex is a joint venture with the Deutsche Beurse AG where Naga Group holds 60% of the shares. It is another indication that this project is worth following.
To sum it up, we can say that at AtoZForex.com we see strong potential for this ICO. Perhaps, Naga Coin ICO will perform as the best ICO of 2017. We will follow more on Naga Coin ICO developments during the following 5 weeks.
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