Soma, said to be the very first Finnnish blockchain startup, is in the midst of an Initial Coin Offering (ICO). The ICO, which started on September 26th, has reportedly raised over $240,000 in the first 48 hours.
Soma is described as a decentralized platform which facilitates trade inside their community through a rewarding system that enables beneficial collaboration of the community members. Users are encouraged to engage in actions that will benefit other members rewarding these actions with their Token: Soma Community (SCT). This bespoke cryptocurrency is designed to incentivize the members of the community to perform value-adding services efficiently with a cost-effective way of compensation. Soma, an App based platform, is said to be developing an international reputation as a Finnish pioneer in blockchain that is “challenging classifieds giants such as Ebay and Craigslist.”
“Our ICO started yesterday and I am very happy with the results. It’s great to see our hard work develop and our community back us,” stated co-founder Joseph al Sharif.
Jukka Hilmola, Soma’s other co-founder, added;
“We had a great start for our ICO and our community is expanding across the globe. I am happy to see the positive feedback which Soma gets on a local and global scale.”
Investors are said to have come from accross Europe, Asia and Canada. The funding raised during the ICO round will be utilized for product development and technology, legal fees, patents and new employees.
The Soma Token sale ends on October 26th.
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