New Delhi. India’s well-known online education company UnfoldU Group will soon bring its Initial Coin Offering ie ICO (Initial Coin Offering). This is a form of IPO, which is opened in the crypto market instead of the stock market.
In ICO, people invest in utility tokens of the company instead of shares. The biggest advantage of this is that any investor in the world can invest in the ICO sitting from anywhere, which increases the trading volume of the token substantially and gives the company an opportunity to become internationally recognized. The company’s customers can also buy its services through utility tokens. That is, as the company’s business continues to grow, the price of its utility token also keeps on increasing.
Indian-origin Abhishek Bajaj is the CEO of the company
The company’s CEO and co-founder Abhishek Bajaj is a Canadian of Indian origin. Both his father and grandfather have been associated with the world of education and his grandfather has also been honored by the President for his contribution in the field of education. Investors who invest in ICO earn more than ordinary investors because the company is initial. Offers huge bonuses to entice investors. It is believed that UnfoldU will also give a huge bonus on the UNFLD token, but this bonus will be available only for a short time and only a few investors.
Investors who invest later will not be able to take advantage of this. UnfoldU can offer up to 40-75% bonus to the initial investors who invest in ICO. However, the company has not given any official information on this.
How does the bonus work?
Suppose you invest Rs 20,000 in UnfoldU, if the company gives you 50% bonus then it will give you tokens worth Rs 30,000. You can sell your tokens immediately once the company is listed or you can remain an investor for a long time. After the ICO and after the addition of investors, there is a lot of potential for the price of the token to increase but this cannot be said with certainty. The market volatility in crypto is always there.
UnfoldU competes with companies like Byju
In the event of UnfoldU’s ICO being oversubscribed, the company selects investors through lottery. Tokens and bonuses are given to the investors who are selected and their investment is returned to the rest of the investors. The possibility of oversubscribing of the UNFLD token remains high as UnfoldU is not a startup but a well-known company for school online education, which is competing with names like Byju.
UnfoldU Group’s UNFLD tokens will be listed on crypto exchanges such as WazirX, Gate.IO and LuaSwap where investors will be able to buy and sell them. WazirX is India’s number one crypto exchange. UnfoldU will raise up to 700 crores from the open market through its ICO. The company will raise up to 45 crores from the sale of the initial token. That is, there is a possibility of getting bonus only on tokens of 45 crores, so that you can understand that investors will have to make a lot of effort to get tokens and bonuses.
Remember, ICO may offer a tremendous opportunity to earn, but investor should understand that crypto is a fast-moving market, so invest only that much which does not affect life and living if lost.