Decentralized Smart Community Network Karma, which uses the Karma Protocol and Karma International Token (KIT) to empower membership-based communities worldwide, has announced that various members of the Blockchain Investors Consortium (BIC) have contributed $300,000 to its pre-token sale.
Token-as-a-Service (TaaS) Fund, Krypton Capital, along with other investors wishing to remain anonymous, have contributed a total $300,000 to Karma’s Pre-Token Generation Event (TGE). Together with additional contributions made over the past eight days of the pre-token sale, this brings the total close to the $5 million goal for the pre-TGE. The 10-day period of the pre-TGE ends on the 21st of October and Karma’s 10-day TGE starts on the 21st of October at 12 noon PST.
Ruslan Gavrilyuk, co-founder & CEO of TaaS Fund, stated: “The contribution to Karma’s pre-token sale is a great diversification of the fund’s portfolio while enjoying reduced risks given the fact that management has been together for over a decades and generated revenues of $32 million. Over the past year, I worked very closely with Karma’s president, Mike Costache, on numerous projects. Mike has been a very active advisor to TaaS, and I have been actively advising Karma on the development of its Protocol,”
Karma will provide its Protocol to other membership-based communities around the world, including physical member organizations, virtual member organizations, and non-profit organizations. Karma’s technology will allow these membership-based communities to more efficiently operate and grow as well raise funds from their donor bases in the case of non-profits.
Founder & CEO of Krypton Capital, Ilan Tzorya said: “Our investment philosophy is all about smart money and providing financing with unmatched value through our experience, resources and an ecosystem that helps your idea thrive. I look forward to working closely with Mike and the entire Karma’s team to allow so many membership organizations to benefit from what only elite organizations have access to today,”
Individuals will be able to use the Karma International Token (KIT) to vote on business items, membership, relevant dues, and purchases. The KIT will allow membership organizations to launch, manage, build and operate on the Karma Community Network (KCN), with customizable modules and support.
Mike Costache, President of Karma, commented: “I welcome these recent contributions from TaaS Fund, Krypton Capital and other individual investors from the Blockchain Investors Consortium (BIC). It’s been a pleasure working with these sophisticated investors who contributed a lot more than capital to bring the Karma Protocol to its current phase,”