What Happened: Steve Wozniak’s blockchain venture Efforce listed its cryptocurrency token on the HBTC exchange on Dec. 3. It reached “$950M in the first 13 minutes, 10 times the listing price,” according to a company press release.
The company says investors had given it a valuation of $80 million valuation in private sales.
Why It Matters: Wozniak first mentioned Efforce in July 2019 at the Delta Summit in Malta, according to news publication The Malta Independent.
The company’s goal is to use blockchain to “improve the way we use energy and lower energy consumption without changing our habits,” Wozniak said at the summit.
Efforce plans to become a marketplace to help fund energy efficiency projects using blockchain. The projects will be able to get funded, getting crowd contributions from investors using Efforce's token WOZX.
The company is registered in Malta because the Apple co-founder said he had long wanted to invest in the region.
"It has been on my mind for decades. Like no other place in the world," he said.
https://www.benzinga.com/markets/cryptocurrency/20/12/18665855/steve-wozniaks-blockchain-venture-lists-cryptocurrency-token-reaches-950m-in-13-minutes ....
Steve Wozniak founded a crypto coin to address climate change. Details yet to be announced. From press releases it sounds like a crowd funding campaign crossed with an altcoin. Offhand I don't remember anyone trying this before. For those who don't know who Wozniak is. He cofounded apple with Steve Jobs. Wozniak wrote the original apple PC operating system. Then designed and built the hardware. Steve Jobs was the sales, organizer and PR guy.
A crypto coin reaching near to $1 billion in market cap on day 1 could be a record. I don't know if this received much publicity. I think it could have potential.