Crypto launchpad Gems is reporting having raised $198 million to “unearth genuine gems in the Web3 landscape. The Israel based entity explained the money will be divvied up among its first three projects.
The launchpad is said to bring together a huge network of investors, organized by “Leaders” to provide early access to early stage projects that are deemed to be high quality.
Reflecting on the ICO rager that ended in tragedy, Gems say they provide a solution to the ICO scams that peppered the entire digital asset industry.
Gems notes that it launched itself earlier this year, raising $10 million and introducing its native GEMS token.
The GEMS token aims to provide community members with various benefits, including discounted access to presale and private sales for projects on the launchpad.
Isaac Joshua, CEO of Gems, said that many projects still find it hard to raise the necessary funds even though they hold promise.
“As an exclusive, yet community-oriented launchpad, Gems is an innovative take on the old launchpad model that leverages a global network of investors keen to invest in the most promising projects. We are dedicated to ensuring that both our Leaders and projects benefit from our launchpad, with the ultimate goal of building a robust ecosystem that sets a new standard for meaningful crypto investing.”
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