WePower, a green energy trading platform raised about $3M in its public pre-sale making it a huge success, especially in the energy industry. It is certainly garnering a lot of hype ahead of its upcoming ICO.
First global blockchain based green energy platform
WePower is the first global blockchain based green energy trading platform that recently finished its pre-sale. During the pre-sale, that was open to everyone, WePower sold about 8.5% of its tokens for $3M.
One of the biggest global startups accelerator that has its program in some of the major startup hubs such as New York, London, Amsterdam, Berlin, Singapore and many more. This also marks a significant recognition of technological achievements of startups to revolutionize the energy markets by using blockchain.
WePower is the largest ICO in the energy sector so far and as per Nikolaj Martyniuk, the co-founder and chief executive of WePower, the interest the project has received showcases "the viability of bringing green energy onto the blockchain.”
WePower is basically a platform that helps the developers of green energy power plants raise capital by selling their future energy output in energy tokens. Moreover, due to the production volumes of green energy finance being recorded in a distributed open ledger, its blockchain technology also make the green energy accounting much more transparent.
WePower ICO details break down
The ICO sale of WePower started on February 1, 2018, and would close on February 14, 2018.
The project accepts only ETH and the price of its token WPR is 1 ETH = 8,000 WPR. Based on the Ethereum platform, the soft cap of this ICO is 5,000,000 USD and the hard cap is 40,000,000 USD. However, it is restricted to the US area.
The individual cap for the first 5 hours (that began on February 1st, 12:00 PM UTC and ended on February 1st, 5:00 PM UTC). Some other useful details:
- The Individual cap for a single wallet was 0.2 ETH.
- The Minimal contribution was 0,1 ETH.
- The Recommended gas limit was 300,000.
- The Recommended gas price was 23 GWei.
- Unlimited cap (From February 1st, 5:00 PM UTC)
Transforming renewable energy into an asset class, WePower an ICO worth attention
The concept of WePower is basically to turn the renewable energy into an asset class which is a smart move. In addition, evolving into a virtual utility provider make this project an excellent choice for investors to get themselves into. The idea has a potential but the issues will come into the execution stage. Though there are still some holes that need to be filled in, in terms of the technical and engineering aspect of the project, WePower is certainly an ICO that demands attention.
What are your views on WePower ICO? Given its successful start, would you be interested in investing in such project? Let us know below!
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