Kim Dotcom to Launch Bitcoin-Based Cryptocurrency on Bitfinex’s New IEO Platform
German-Finnish internet entrepreneur and political activist Kim Dotcom is planning to launch his new Bitcoin-based token K.im (KIM) on Bitfinex Token Sales, Bitfinex’s new platform for the issuance, development and launch of digital assets.
Introducing Bitfinex Token Sales, a comprehensive digital assets offering & launch solution supporting high-quality crypto projects over the long term. https://t.co/HM04y6rmef will be the first token sale on BTS, Learn more and verify now https://t.co/9vl2uArVW1 pic.twitter.com/Jp27ATw1En
— Bitfinex (@bitfinex) September 24, 2019
According to the announcement, K.im plans to raise $8 million with the token sale, which begins on October 22 at 7:00 AM (EDT). K.im aims to be the ultimate content publishing and monetization platform and will be used for micropayments, provide access to premium features and act as a unit of value for digital content on the K.im platform.
“Most IEO’s are marketing campaigns that focus on achieving a short-term result, but that’s not how real businesses are built. Successful businesses are built through long-term, sustainable growth,” said Paolo Ardoino, CTO at Bitfinex.”I think some crypto projects are too focused on short-term results and this can harm a project’s long-term prospects. We learned a lot from observing the performance of IEO’s over time and across different platforms as well. Those observations inspired us to take a step back and re-tool our own approach and technology, which we’re incredibly excited to share with the world today.”
K.im founder Kim Dotcom added, “Combining the internet with Bitcoin gives us a real chance of achieving the original promise of the internet; freedom of speech, commerce and finance. I founded K.im to allow artists, content creators and digital businesses to cut out all the middlemen and sell content and digital goods without censorship and outside of monopolies. Bitcoin is now at the stage where it can scale with our vision. We can finally create our KIM token on top of Bitcoin thanks to recent technical breakthroughs like Lightning and Liquid. Bitfinex is the perfect partner to help us distribute KIM tokens, built on Bitcoin, to those who want to access the freedoms that our products provide.”
This announcement came the same day that Bitfinex won a motion in the appellate division of the New York Supreme Court. The exchange is currently under investigation by the New York District Attorney over its controversial stablecoin Tether (USDT). With the new motion, Bitfinex won’t have to turn over documents pertaining to its use of the Tether until a future date.
More: K.im Token Sale Page
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.