Geeq, a multi-blockchain platform has received a milestone-based financial commitment of $25 million from Global Emerging Markets (GEM Digital Limited).
According to the announcement, the multi-blockchain platform will chart a leap into the leadership of mass blockchain adoption with the fund. Unlike traditional funding rounds, this fund will roll in based on Geeq’s performance along the line. In other words, the inflow of capital is highly dependent on performance.
The Geeq blockchain is designed with a forest-of-chains architecture to suit any kind of blockchain application. Notably, the blockchain possesses a consensus mechanism that drastically causes a reduction in the cost of securely running a transaction. Additionally, the mechanism is cheap, fast, safe, and flexible for any application of choice.
GEM Digital Limited is a crypto investment firm that has investments in over 30 centralized and decentralized exchanges worldwide. Specifically, the venture capital actively searches, organizes as well as structures investments in utility tokens. One of its recent investments was $150 million invested in H20 Securities, a crypto startup.
According to the CEO of Geeq, ”With the GEM capital commitment, we are ready to bring enterprise and individuals into the metaverse and Web3. Our easy-to-integrate solutions from fintech to game tech, NFTs to micropayments, boast the best blockchain security on the planet.”
GEM Digital to Invest in 5.4M GEEQ Tokens
Meanwhile, Geeq has a product offering dubbed Geeq Data which provides upgraded data reliability, consistency, and confidentiality. With the various functions of this tool, it is able to focus on trust deficits discovered amongst organizations as well as blend with previous systems without hassle.
Interestingly, one benefit of the product is its capacity to keep several stakeholders on the same page. Also, the stakeholders are provided with audit trails that are fully authorized and updated.
As part of the deal between Geeq and GEM, the alternative investment group will be made to invest in 5.4 million GEEQ, the native token of the platform.
On the contrary, the tokens will not be distributed from the already issued supply but from an unissued supply. The tokens will be held in a custodial wallet for a period of three years and only after this time will they be released. Apart from the agreed $25 million capital, this will serve as another form of funding for Geeq.