Initial coin offerings, more commonly referred to as ICOs, are all the rage this year. Yet despite all the hoopla surrounding this new phenomenon, not everyone is impressed. Fundamentally, ICOs fail because the company is often unable to launch a viable product and reach their objectives.
One upcoming ICO that is catching everyone’s attention is the NAGA token sale. Right out of the gate this ICO is expected to be very successful, in large part because it has already had an extremely profitable IPO earlier this year. Even now the stock is still performing really well, despite above average volatility.
What is NAGA?
But what exactly is NAGA? The NAGA Group is a German FinTech company that specializes in making stock trading and virtual goods trading more accessible to the common person. They’ve already launched two successful trading platforms, SwipeStox and Switex (currently in Alpha, will be launched in Beta on 2018) , which specialize in making markets for traditional assets (stocks, ETFs, and commodities) and virtual goods, respectively. They are also creating the NAGA Wallet, a cryptocurrency wallet that enables users to deposit NAGA Tokens (NGC) to use on the SwipeStox and Switex platforms, as well as any future platforms.
By integrating their platforms with the NGC cryptocurrency, the NAGA team is hoping to give control, access, and transparency back to individual users. In the existing financial markets, all of the power is held by central banks like the US Federal Reserve and the European Central Bank. Additionally, global banks dominate financial markets, leaving smaller players in the dust. By tokenizing current and future platforms, the NAGA team will lower transaction costs for traders and also allow all platforms to operate on one decentralized currency. This means it will be easier to move in and out of positions -- since both crypto and fiat currencies will be converted to NGC, there is much more flexibility for who can participate on the platforms.
Another advantage of running the platforms through a cryptocurrency is that NGC won’t be regulated by a central bank like the Federal Reserve or ECB. This will lead to a dramatic decrease in transaction time, payment processing, and the red tape that plagues the industry. Cross border transactions and international payments will be much easier, and participants don’t have to worry about monetary policy inversely impacting their NGC coins.
As far as the team goes, NAGA shows a lot of potential. Not only has the existing group already launched a successful IPO and two flourishing platforms--they’ve also recently added Blockchain expert Roger Ver to their board of advisors. He will certainly be an invaluable asset to an already star-studded lineup.
The NAGA pre-sale begins on Nov. 20, 2017, and will run for a full week until Nov. 27. The pre-sale will offer 20,000,000 NGC, with each NGC token priced at $1. Given the success of the July IPO, potential investors should be sure to sign up quickly - there is also a 30 percent sale bonus during the pre-sale. Join their Telegram to learn more.
Disclaimer. Cointelegraph does not endorse any content or product on this page. While we aim at providing you all important information that we could obtain, readers should do their own research before taking any actions related to the company and carry full responsibility for their decisions, nor this article can be considered as an investment advice.