Verge community crowdfunds 75 million XVG for STILL unnamed partnership [UPDATED]
Verge, ranked 26th in Coinmarketcap in terms of marketcap, has exceeded its crowdfunding goal of 75 million XVG ($3.375 million) for facilitating a partnership. The details of the partnership have been kept in wraps as the founder says that they have signed an NDA.
[UPDATE]: The biggest announcement in all of crypto has released. According to the results video, the announcement is that the name will now be revealed on April 16th.
According to the Verge Donate page, this is the only information about the partner.
“A global organization with a vast network of high traffic sites is looking to enter the cryptocurrency market and form a strategic business alliance with Verge as the preferred form of secure payment method, offering a quick and private means of transaction to hundreds of millions of potential consumers daily. This partnership represents an enormous potential market with a global reach that will compete with multiple fiat currencies.”
According to Verge Explorer, they have actually exceeded the crowdfunding goal by over a million XVG.
An announcement regarding the details of the partnership will come out today according to the tweet below:
VergeDev @justinvendetta will be posting a video about the crowdfund and other news in the morning! Thanks to everyone who helped us reach our goal! #vergefam $XVG
— vergecurrency (@vergecurrency) March 27, 2018
The fundraise was aided by Tokenpay who had matched any donation beyond 50000 XVG to the address. This initiative was taken up post the 50 million XVG mark. It was done to speed up the donation process. They also claimed to have donated 66.5 million XVG to the token sale.
We contributed 66,500,000 $XVG to the #VERGE fundraising so we can reach the goal. #VergeFam and #TokenPay are strong partners and we look forward to announcing many $TPAY integrations with @vergecurrency. Special thanks to @binance, @cz_binance & @Teddy_Lin for amazing support.
— TokenPay (@tokenpay) March 27, 2018
Token Pay seems to be a partner of Verge. And if they have donated 66.5 million XVG to the ’cause’. Why was there such a hyped up crowd sale in the first place ? The Verge team could have just raised the money from the partners. It seems like a way of hyping up the partnership by getting the community involved.
Verge is one of the most buzzing coins in the space right now. The upcoming announcement would be hugely awaited by the Verge community. But it can be prove to be a double edged sword if the announcement doesnt meet expectations. Also, questions are raised about the need for a fundraise to facilitate a partnership.
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