New Delhi : Singapore based young entrepreneur, Vikas Gupta shared on how he is in the process of launching GINNI ICO and creating a huge multi-million dollar mining infrastructure along with a crypto vending solution to support block chain businesses across Asia, starting off with Singapore.Vikas Gupta is scheduling an Initial Coin Offer (ICO) of 300 million GINNI tokens. He is raising about US$15 Million(approx 100 Crore) for 50% of GINNI tokens. Funds raised will be mainly used for 2300 mining servers in Singapore and 100 Fast coin ATM machines in many countries namely Thailand,UAE, India besides Singapore. These are expected to generate an average turnover of over 1 billion p. a and profits of over $21Million. Mining servers will be able to generate a regular profits for the company.ICO is a new way of arranging capital for technology start-ups by crowd funding where crowd funding supporters gets tokens for that.
MAW will be launching its GINNI token PRE-ICO starting on the 6th of December, 2017 at a price of 3100 Ginni /Ethereum. Public crowd sale for ICO will start in 2018 starting from 2800 and closing at 2200 Ginni. It gives a benefit about 40% in Pre ICO and about 27% in ICO making it very attractive proposition. Company said “We value our supporters as our lifeline and we have decided to reward them more than us(58% for token holders (in prorated ratio to be distributed quarterly) from the rewards the
business will generate, making it a lifelong asset for them. GINNI tokens will be issued by smart contract automatically and instantly. Smart contract can be verified on ethers can publically. There is no direct involvement of cash or the banking system in this whole process. This is a very transparent process where each individual can see how much funds has been raised by this start-up.
Tokens will be listed on at least 2 exchanges so any crowd funding supporter can trade them easily to get liquidity or exchange them with other tokens. We see a strong response demand for the GINNI tokens worldwide as we are ICO based on a concrete and profitable business. Other unique business stream Vikas Gupta have is to install 100 FASTCOIN ATM machines. Currently
it is quite tough for buyers to buy or sell crypto coins especially general public who is not so tech savvy. Currently they have to wait for 1-3 days to get funds remitted to online exchanges leading to a (2) Substantial price variation. FASTCoin ATM will help them to buy/sell instantly about 40 different type of coins giving users a wide choice and peace of mind. Fastcoin ATM will have very good demand for coins on a daily basis. Vikas emphasized that FastCoin ATMs will prove to be a great benefit to the MAW and its token holders. We are presently mining coins, but it needs to be sold to materialize rewards and to reap the rewards of the collective efforts,” he shared. FastCoin gives us the opportunity to sell coins to end users without any intermediary, broker or exchanges. It further divides our business risk and enhances our business with value proposition. MAW’s first prototype is now ready in Singapore and any potential investor can book a tour of the
facilities to see the premises live. Pilot testing will be done in December and will be fully operational in a popular plaza by January 2018.Vikas has plans laid out for FastCoin to be positioned as leading brand in the Crypto coin ATM sector. GINNI’s can be of great benefit to millions of NRI abroad and their families. The NRI’s can send tokens and get up to 5% more money for same dollars to their families at home.