In a press release, FGC said AICoin would interact with the “top seven” assets.
“When the coin goes live after the ICO closes, 100 percent of the capital generated from the ICO will be used to trade [...] using decisions generated by state of the art artificial intelligence trading models designed to identify market opportunities and execute trades [...] without the need for manual intervention,” the press release explained yesterday.
“As trading profits accrue from A.I. directed trading they will be allocated to an Investment Pool used to make regular investments in artificial intelligence and blockchain start-ups.”
FGC has been a Blockchain presence since 2014, and its move into a bespoke token comes as little surprise.
As has become standard in the industry since the ICO phenomenon began, AICoin will run on the Ethereum Blockchain, something which CEO Gavin Smith said was essential.
“The structure of the AICoin Investment Collective is an entirely new development that would have been cumbersome if not impossible without the benefit of AICoin being built on the Ethereum protocol,” he commented.
The project meanwhile has the default backing of industry heavyweight Jon Matonis from his role as FGC executive board member.
Matonis was predictably upbeat about AICoin ICO and features, despite the sale being ostensibly uncapped.
“The AICoin model leverages off proven artificial intelligence models to direct market investment and coin allocation percentages,” he explains.
“I also appreciate the innovative market differentiator which links appreciation to further investments in sector startup companies, which no one has ever done before.”
The ICO began Monday and will end Aug. 28 “or until the founders feel a reasonable amount of trading capital has been achieved,” FGC confirmed.