FriendUP – Norway’s First ICO

FriendUP – Norway’s First ICO

The Friend Software Corporation has gone live with their pre-sale and in doing so have become the first company from Norway to hold a token generating event (TGE).

Norway, despite currently being the world testbed for 5G technology, has seen no previous ICO action due partly, it is thought, to the high costs associated with both wages and investment.

Project Development Exposed on GitHub

While the TGE is groundbreaking for Norway, the company themselves already have a functioning product that started development in 2014, a working demo of which is available on their website.

With the issuing of the FRND tokens the company are aiming to federate web applications through their cloud computing Friend Unifying Platform (FriendUP) and bring them to the blockchain.

The platform is designed to be origin-agnostic in that it connects diverse technologies and in doing so reduces development overheads by improving user access, distribution and file management.

Participants on FriendUP will share ownership of the infrastructure and also be rewarded with tokens. The project’s development can be tracked on its GitHub repositories.

A maximum of 2 billion of the ERC20 FRND tokens will be issued at a price of 20,000 FRND to 1ETH. Minimum investment is 0.1 ETH and any participants in the pre-sale will receive an additional 20% of tokens.