In a deal representative of a growing trend within the ICO space, First Bitcoin Capital is using $1 million of its WEED inventory to acquire tokens in the PERKSCOIN ICO. The deal will also give the PerksCoin Token Transaction Platform (PTP) membership of the CannaBloq Consortium.
Addressing Fraud Issues in Cannabis Industry
The PerksCoin Token Transaction Platform is being developed by CannaSOS, a Canadian based social network for the Cannabis industry. The platform seeks to provide solutions to several global problems in the Cannabis industry. CannaSOS hopes the platform will protect buyers from unverified sellers and minimise fraud in the cannabis industry.
First Bitcoin Capital (FBC) is developing the CannaBloq Consortium as a related grouping of Cannabis companies, with seven initial members. CannaBloq requires member companies to own $WEED before joining. First Bitcoin Capital have set up a similar consortium in the petroleum industry.
FBC is a publicly traded company entirely focussed on Blockchain technologies. The company’s projects include crypto currency ATMs, an exchange, a travel payments project and news site. They hope the deal with PerksCoin will strengthen the value offered by CannaBloq.
The deal has been transacted at a WEED coin value of $1.80, and a PERKSCOIN value of $0.48 – a 40% discount to the minimum ICO price.