The NAGA Group AG publishes details of the planned token sale: Token sale volume of up to 220 million USD is targeted.
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CORPORATE NEWS __________________________________________________________THE NAGA GROUP AG (NAGA) publishes details of the planned token sale: Token sale volume of up to 220 million USD is targeted.
- Token sale will take place in the fourth quarter of 2017
- NAGA creates its own unit of account for its own platforms and worldwide trading
- NAGA crypto exchange for the exchange of virtual goods, shares, CFDs etc. to follow soon
__________________________________________________________ Hamburg, 27 October 2017
Within the framework of a token sale, THE NAGA GROUP AG will offer, in cooperation with external partners, its own ERC20 and blockchain-based token (NAGA Coin, "NGC"), which will be accepted as a unit of account within the growing NAGA ecosystem, and which will be traded on crypto exchanges worldwide after completion of the token sale.
NAGA plans to generate 400 million NGC together with external partners and to offer 55% thereof to interested parties. No further tokens will be generated. This means that the maximum number of generated tokens will not exceed 400 million (so-called "Hardcap"). This is controlled by the built-in SmartContract, which is based on the Ethereum blockchain. The token price will be $ 1 per NGC, equivalent to a token sale volume of up to $ 220 million. Among other things, the token sale will serve the further development of the NAGA platforms Switex and SwipeStox as well as the NAGA Wallet. In addition, the marketing of the NAGA infrastructure is to be promoted. The remaining token stock of 45% of the NGC created, serves to promote the NGC through strategic investments, marketing, employee incentives and advisory measures. It is also planned to list the NAGA Coin with the ticker "NGC" at the world's largest crypto exchanges. Thus, token buyers and users can buy and sell NGC.
In the course of the ICO, the NAGA Wallet will come into action for the first time. Buyers can buy NAGA Coins by means of other crypto currencies (e.g. Ethereum, Bitcoin, Litecoin) or EUR / USD via the NAGA Wallet from 20.11.2017. For the first 20 million tokens, a 30% bonus is granted for 7 days (so-called "Pre-ICO") before another 200 million tokens are sold as of December 1, 2017 (so-called "Main-Token-Sale").
Within the NAGA ecosystem, users can now open an account with the base currency NGC at SwipeStox and Switex, or choose NGC as the payment method in existing accounts. Using NAGA Wallet, users can use the NAGA infrastructure to trade NGC, or make payments. Furthermore, the NAGA ecosystem allows users to invest directly into other currencies and crypto currencies, shares, forex pairs, CFDs and even virtual goods (for example, from computer games). The long-term goal is to develop a NAGA crypto exchange - depending on the success of the NAGA Token Sales - and thus offering a unique platform for the exchange of virtual goods, shares, CFDs, etc.
As, for example, trading of shares is not possible for all potential investors / investors in the world, NAGA offers an innovative complete solution. Existing projects, such as Switex and NAGA Wallet, are already based on the blockchain technology, which from the perspective of management is the company's future.
The NAGA Token Sale does not constitute any share or company-law participation (and therefore does not cause any diluting effects) but is a pure unit of account and thus represents an expansion of the product offer.
The planned token sale is therefore to be seen as a consistent and logical step for NAGA and the associated NAGA ecosystem in becoming a solid, shaping component and innovation driver of the global crypto-economy.
THE NAGA GROUP AG:
THE NAGA GROUP AG was founded by Yasin Sebastian Qureshi, Christoph Brück and Benjamin Bilski in August 2015. Its mission: to develop, market and grow disruptive applications in financial technology, all of which aim to bring change and open up the existing financial system. The word "Naga" means "Cobra Snake" in Sanskrit and it is the name of the hottest chilli in the world.
Contact: The NAGA Group AG Alexander Braune Herrengraben 31 20459 Hamburg E: firstname.lastname@example.org
UBJ. GmbH Ingo Janssen Haus der Wirtschaft Kapstadtring 10, 22297 Hamburg T: +49 40 6378 5410 E: email@example.com
27.10.2017 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.deLanguage: English Company: The NAGA Group AG Herrengraben 31 20459 Hamburg
Germany E-mail: firstname.lastname@example.org Internet: www.thenagagroup.com ISIN: DE000A161NR7 WKN: A161NR Listed: Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange; Open Market (Scale) in Frankfurt End of News DGAP News Service