GEMS Raises $110k in First Stage of Pre-Sale on Koinify, 300 Participants Estimated

CoinDesk reports that GEMS has crowdfunded approximately $110,000 on Koinify during the first stage of its pre-sale campaign which was reserved for “select value-added partners in the Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term sector” only.

GEMS is a social messaging app which also allows users to send each other bitcoins and its native token, XGEM.

The first stage of the pre-sale began two weeks ago and ended yesterday when it was opened up to the broader public.

An estimated 300 participants took part in the first round which sold approximately 5 million XGEM at the rate of 17,250 XGEM per BTC. Thus, total proceeds equal approximately 290 BTC (~$110,000), an average of nearly one BTC ($367) per participant.

While buyer interest was strong in the first round, founder Daniel Peled expects numbers to strengthen as the clock for the campaign ticks down. He compared the campaign to that of Ethereum Ethereum Ethereum is an open source, blockchain-based distributed computing platform and operating system featuring smart contract functionality. Created in 2014, Ethereum now stands as the second largest cryptocurrency by market cap at the time of writing.As a decentralized cryptocurrency network and software platform, Ethereum represents the most prominent altcoin. Ethereum also enables the creation Distributed Applications, or dapps. Understanding EthereumEthereum boasts its own programming language, Ethereum is an open source, blockchain-based distributed computing platform and operating system featuring smart contract functionality. Created in 2014, Ethereum now stands as the second largest cryptocurrency by market cap at the time of writing.As a decentralized cryptocurrency network and software platform, Ethereum represents the most prominent altcoin. Ethereum also enables the creation Distributed Applications, or dapps. Understanding EthereumEthereum boasts its own programming language, Read this Term, where "90% of the buys were at the last minute of the best price before it rose."

GEMS and Koinify worked hard to collaboratively manage the crowdsale, with the GEMS team even flying to San Fransisco where Koinify is based.