Bitcoin, Cryptocurrency And Blockchain News

NAGA Token Sale Ends, Raises More Than $50 Million

NGC will be listed on HitBTC exchange tomorrow.


The NAGA token sale has ended up raising more than $50 million from over 63,000 people.

According to the website, German Fintech company NAGA now has the second largest ICO community in the entire world. Interestingly, the NAGA Group had a victorious run in 2017 – launching a successful IPO in July and being listed on the Frankfurt Stock Exchange. The company’s share price has since increased more than 400%, and its market cap is currently over 200 million.

The NAGA group previously launched two companies: online stock trading platform SwipeStox and virtual gaming goods exchange Switex. NAGA’s smart cryptocurrency platform plans on providing users with transparency while excluding transaction fees, unlike banks and corporations. It will allow you to store all your cryptocurrencies in a secure wallet, transfer NAGA coins into SwipeStox to trade/invest in stocks, ETFs or cryptocurrencies, and buy virtual goods using a NAGA credit card connected to the wallet. Additionally, you can use Switex to buy/trade gaming goods using NAGA coins stored in SwipeStox. The token price was kept $1 for 1 NAGA coin (NGC), where a minimum of 15 NGC would have to be purchased in the sale. The website claims that all unsold tokens would be burned after the distribution.

The project was advised by CEO Roger Ver, and COO Mate Tokay, Evercoin co-founder Miko Matsumura, and Bancor co-founder Guy Ben-Artzi. The NAGA token sale has generated positive reactions from people all over the world. The company has been featured in Forbes, CNBC, Bloomberg, and Reuters among others. Moving forward, the NAGA wallet will be launched in April, followed by the NAGA debit card on July 2018.

Additionally, NGC will be listed on 22nd December 2017 (09:00 PM UTC) at HitBTC Exchange.