pitchIN launches first token crowdfunding deal with BidNow

By:
On:
In: Technology
Tagged:
  • The BidNow platform’s primary mode of change will be the bidNow gift.
  • TCF raises funds via online key issuing, offering flexibility, exit opportunities

(Left to right, stranding): Sean Lee (BidNow), Liang Wooi Gee (BidNow), Ivan Goh (BidNow), Nicholas Chong (pitchIN), Marcus Tan (Gambit), Chris Yong (BidNow), Clifford Hii (Gambit), Steve Siew (BidNow), Jarvis Wong (BidNow), Kelvin Cheong (Gambit), Linus Loh (BidNow). (seated left to right): Frankie Goh (BidNow); Sam Shafie (pitchIN) and Dr. Mohamed Azahari (BidNow).

PitchIN, Malaysia’s leading digital fundraising&nbsp, hub, announced&nbsp, the launch of its maiden deal for Token Crowdfunding (TCF), a US$ 2.13 million ( RM10 million ) primary offering of utility tokens by Bid Now, an online auction platform. Based on&nbsp, regulations in&nbsp, Malaysia, TCF&nbsp, is also referred to as an Initial Exchange Offering ( IEO ).

The primary form of exchange for all services on the BidNow platform will be the BidNow token ($ BID ). It can also be utilised for loyalty rewards, account membership, and in the BidNow NFT Marketplace. Moreover, it offers permissions for its key holders beyond key utility, such as reduced fees and higher percentage payouts.

Sam Shafie, the co-founder and CEO of pitchIN, said,” It truly is a historical moment for pitchIN. This is a significant milestone for us because we are the pioneers in Malaysia’s digital resource funding and investment ecosystem. We applaud the Malaysian Securities Commission for their direction and management. Investors have the option to make bold digital investments through an approved channel thanks to PitchIN’s girl TCF offer.

He noted&nbsp, that there are not many other entirely regulated TCF deals&nbsp, in Malaysia.

According to pitchIN, TCF is an innovative way for businesses to raise funds from the people through online key release, &nbsp, offering more flexibility, company coverage, and leave opportunities. TCF typically offers both guaranteed investment results and exclusive access to the company’s upcoming goods and services.

TCF provides owners access to early-stage digital currencies through a regulatory-compliant program with the chance to expand their investment portfolio and enhance&nbsp, earnings.

Nicholas Chong, the head of Token Crowdfunding at pitchIN&nbsp, said, &nbsp,” Bid Now’s deal is the first of many to come. We do include a few more in the pipeline. Our team is making an effort to make sure that the best interests of the firms raising money and the owners are being properly considered. It is quite a difficult process, but with the help of the SC, it is very likely that we will see more Metres offers listed&nbsp, in the coming month. Gratitude to&nbsp, the BidNow group on being the first offer on the pitchIN TCF platform”.

BidNow is then pre-live on pitchIN. For more information on the package, please visit: www. pitchin. my/token

BidNow has already exceeded the minimum amount it was hoping to raise.