Jambo is raising $5 million from Bitget through a token sale on the LaunchX platform.
By Godfrey Benjamin
Edited by Marco T. Lanz
Updated
3 mins read
Bitget, a leading crypto exchange, has recently revealed its partnership with Jambo, an on-chain mobile network, for a new satellite launch initiative.
As announced by the firm, through a $5 million token sale on Bitget’s LaunchX platform, Jambo aims to bring uninterrupted decentralized services to users worldwide.
At the core of Jambo’s vision is the JamboPhone, a $99 crypto-native smartphone that has caught the industry’s attention. With over 700,000 units sold in 2024, the JamboPhone is more than just a gadget; it is a gateway to decentralized finance (DeFi), gaming, and earning opportunities.
This high-spec device, equipped with Web3 apps, gives users in emerging markets unprecedented access to the digital economy. Over 3 billion people around the world still lack reliable internet access.
Jambo’s satellite program aims to change that by providing borderless, uninterrupted data for its users. The satellites will ensure seamless data access for JamboPhone users, even in remote areas where traditional internet is unavailable.
In a statement, Jambo’s CEO, James Zhang, noted that this initiative not only strengthens the JamboPhone’s competitive edge. It also opens new doors for blockchain-based mobile applications.
To fund this project, Jambo is turning to Bitget’s LaunchX. This platform gives users early access to tokens with strong potential. It is known for connecting investors with ideas that drive change, and Jambo fits the bill perfectly.
Gracy Chen, CEO of Bitget, said Jambo’s goals align with Bitget’s mission. She explained that Jambo’s focus on blockchain and mobile innovation fits the exchange’s plans to support projects that bring lasting value to the crypto world.
Jambo’s satellite launch is not just about connectivity; it is about creating a self-sustaining ecosystem. At the center of Jambo’s ecosystem is the Jambo (J) token. It drives the network by offering rewards, discounts, and payouts, fueling the decentralized economy envisioned by the company.
The Jambo (J) token is set to power this vision by rewarding users and fueling transactions. With the success of Bitget’s previous projects, like the Fuel Network’s $5.5 million token sale, excitement is building for Jambo’s turn on the LaunchX stage.
Through the LaunchX platform, this collaboration promises to revolutionize how people access decentralized services, proving that technology can truly connect the world.
Jambo’s project is part of a bigger trend in the tech industry. It focuses on expanding access to decentralized technologies and blockchain services.
With the rising interest in Web3, firms are working on ways to bring these technologies to more people. This is especially true in areas that do not have easy access to them.
Companies like Starlink by SpaceX, Helium Network, and World Mobile, amongst others, are working to provide affordable internet in underserved areas.
As reported by Coinspeaker, e-commerce giant Amazon.com Inc. was among the pioneers of an internet satellite test mission into space for its Project Kuiper in 2023.
Similar to Jambo’s plan, these projects are part of a trend to improve global connectivity and make blockchain services accessible to all.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Benjamin Godfrey is a blockchain enthusiast and journalist who relishes writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desire to educate people about cryptocurrencies inspires his contributions to renowned blockchain media and sites.
