A month after Floyd Mayweather Jr. promoted the ICO of Stox.com, a blockchain prediction company, on Instagram, he takes to Twitter to speak about another one. This time he stands for the Hubii Network which intends to raise as much as $50 million through an Ethereum-based initial coin offering to build a blockchain-based content marketplace.
Stating himself as “Floyd Crypto Mayweather” in an Instagram post, the sport star even hinted at an ongoing promotion effort with the hash tag “#CryptoMediaGroup” without elaborating.
The Norwegian startup the boxer promotes, launches its ICO on Aug. 24 which will be one of the first, if not the first, ICO in the news content space.
Hubii’s plans to create a new Ethereum-based decentralised content marketplace where “creators and rightsholders can meet distribution networks and reach content buyers directly, all while having total confidence in maintaining the integrity of their rights through the use of smart contracts,” the company’s mission states.
“Making use of smart contracts will allow Hubii Network to fix fundamental pain points in the content industry and apply mechanisms never seen before in the market. All this will be delivered whilst having full transparency, accountability and security over the transactions using a new cryptocurrency, Hubiits (HUB). The goal is for the entire Hubii Network to be open source and decentralised in nature.”
While its early foray is in news content, startup’s founder and CEO Jacobo Toll-Messia says they aim for the market of entertainment including video, text content and photos. His larger fundraising hopes: a raise up to $50 million.
The network looks forward to cooperating with two key telecom customer relationships – Telenor ASA of Norway and TCL Communication Technology Holdings Ltd.’s Alcatel, with reports claiming, Hubii is approaching to signing the contract with the third major one.
When promoting Stox ICO Mayweather said on Instagram that he was going to make a “ton of money” from the capital raise. Well, at least the company’d made as they met its goal just two days after the start of the ICO. Stox’s twitter informed about a total number of 2,500 contributors.
Stox was launched earlier this July. Invest.com used Bancor protocol to allow users to predict events basing on the crowd’s assessments of events. Bancor was chosen as the foundation for the invest.com team’s platform as this guarantees continuous and high liquidity for Stox users on Ethereum. Users of Stox’s prediction market platform get a possibility to, firstly, purchase STX directly with the BNT smart token using Ether, and secondly, easily liquidate STX back to Ether, with guarantee of low slippage and absence of spread.
Founder and CEO of Jaxx, Anthony Di Iorio, said after the ICO ended: “We’re excited to support Stox as a new token. We’re always looking to build a more harmonious blockchain community and this partnership brings us closer to that vision. The project is gaining a lot of attention and we definitely want to help bring prediction markets to the next level.”
Token-as-a-Service (TaaS), the tokenized closed-end fund dedicated to blockchain assets, admits it has contributed 500 ETH to the Stox ICO.
“This contribution shows our commitment to include the most stable and liquid assets in the fund’s portfolio for the benefit of its token owners. TaaS embraces diversification as a key pillar for sustaining and scaling up the fund’s performance. We are excited to contribute to STOX’s TGE and to support their effort of becoming a pioneering member of the Bancor network,” Ruslan Gavrilyuk, co-founder and CEO of TaaS, said.