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ICO Review: Veridium Labs Receives $5 Million Before Holding Its Public Offering

In a recent ICO review, it was noted that Veridium Labs received investment worth 5 million USD from several renowned crypto investors. The news was revealed briefly before the company holds its ICO next month.

Major cryptocurrency investors such as BlockTower Capital and Brian Kelley Capital Management made an investment into it worth 5 million USD. Incidentally, Veridium is all set to launch its Initial Coin Review on October 1.

The environmental fintech has declared its forthcoming crowdsale wherein a token will be backed by superior quality natural asset for the first time in the history of crypto and ICO space. The upcoming token offering is expected to gather capital by selling ETH-standard TGR tokens.

The assets are backed by the superior quality of forest carbon credits, recognized by the United Nations. It will be packaged by free membership tokens of VERIDIUM, which will offer entry to its trading platform.

There was news in the month of May that Veridium had entered into an agreement with Stellar and IBM to come up with a new digital token on the Blockchain of Stellar called CARBON. The token symbolizes tradeable carbon credits that are used in special emissions trading systems. The credits have been specifically designed to bring down the volume of harmful gases like carbon dioxide generated due to human activity.

Each CARBON token per Veridium will be backed by a combination of renewable energy credits and carbon conservation. The value per token is expected to be 10 USD each. Envision Corporation owns the InfiniteEARTH, which will give the credits, according to Bitsonline.

ICO Review: Veridium Labs To Create Liquid Marketplace

Onboarding services will be provided by Veridium Labs for the natural capital assets using the Blockchain technology. It will create a liquid marketplace and a transparent pricing for natural capital, the largest asset class of the world.

The ICO review further revealed that the step will offer economically viable solutions for corporate sustainability, Blockchain News noted. There is little wonder why so much expectation is building up for the upcoming ICO.


[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]

Pala Sen is an avid follower of fintech, travel and health updates, current affairs and entertainment news from all across the world and writing is a passion for her. She had been previously associated with the corporate world for several years and holds a degree in MBA and a postgraduate software diploma called GNIIT from NIIT.

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