Verge Launches ‘Crowdfund Contest’ in Bid to Establish Mysterious Partnership
Privacy-oriented cryptocurrency Verge (XVG) recently asked its users for 75 million XVG (worth about $3.19 million) so it could establish the “largest cryptocurrency collaboration to hit the market.” To incentivize donations, it now launched a ‘crowdfund contest’ that’ll reward users who donate specific amounts of XVG.
According to Verge’s fundraising appeal, the funds are needed to secure a partnership with a global organization which a “vast network of super high traffic sites.” The deal would, according to Verge, see XVG become a preferred form of secure payment to “potentially hundreds of millions of consumers daily.”
In an attempt to incentivize donations, Verge’s team recently launched a ‘crowdfund contest’. The contest will reward users who donated 2,500 XVG, 5,000 XVG, and the first 10 to donate 75,000 XVG.
Those who donate 2,500 ($106.5) will get a chance to be one of 25 winners who’ll be able to win one of several prizes. These include 20 minutes with the cryptocurrency’s founder, artwork created by him, or a signed XVG coffee mug. A donation of over 5,000 XVG ($213) will get donors on Verge’s donor page.
The first to donate 75,000 ($3,195) or more XVG will reportedly received a special thank you note, and a chance to have a skype call with the cryptocurrency’s founder.
Notably, in a recently released video announcing the crowdfund contest, the possibility of the deal failing for not reaching the 75 million XVG goal is put forth. In that case, the video notes, donated fund will be used to fund other development initiatives.
If the goal is indeed met, the name of the company Verge will be partnering with will be revealed tomorrow, March 26. According to a Verge representative who spoke to The Next Web, the deal could see XVG become one of the top 10 cryptocurrencies, if not one of the top 5.
At press time, Verge’s blockchain explorer is seemingly inaccessible. Data suggests users donated over 18 million XVG, worth about $761,000. TokenPay, another cryptocurrency project, notably claims to have donated 15 million XVG.
Big things happening with @vergecurrency. #VergeFam, we contributed 15,000,000 $XVG to the fundraising drive. #TokenPay & #VERGE are strong partners. Let’s help them hit their goal. https://t.co/6CC6MVOsSq— TokenPay (@tokenpay) March 24, 2018
Reports suggest TokenPay is considering covering the rest of the amount needed to meet the 75 million XVG goal. On Reddit, most users are calling on whales with large XVG holdings to contribute as well.
The crowdfund contest winners will be selected before March 28. Those who contribute will have to prove they did so to be eligible, by sending a screenshot of their donation to the cryptocurrency’s team.