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Caviar Announces TGE of Its Asset-backed Dual Purpose Cryptocurrency

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by Eugenia Kovaliova · 3 min read
Caviar Announces TGE of Its Asset-backed Dual Purpose Cryptocurrency
Photo; Caviar / Twitter

Caviar is to solve the problem of cryptocurrencies’ volatility by its asset-backed tokens, the TGE of which is already running.

Many of the top cryptocurrencies are still going strong despite news of South Korean coin exchange ban being more and more pronounced.

But some people in the cryptocurrency world believe that the lack of tradable, tangible assets backing cryptocurrencies is going to hurt the coins in the near future as the market begins to get overly saturated.

The idea of asset-backed cryptocurrencies is gaining momentum right now and becoming more and more appealing to conventional investors.

Caviar, a real-estate backed cryptocurrency is undergoing a Token Generation Event (TGE) till the end of this month and they are looking to capitalize on this increasing interest towards asset-backed tokens.

Real estate has historically been one of the most lucrative markets for investments throughout the world and has universal appeal. The Caviar platform is offering potential backers a chance to capitalize on two of the highest performing industries in the world – cryptocurrency and real-estate.

The volatile nature of cryptocurrencies is brought about by lack of tangible assets at the back end, which makes many investors hesitant to get into the new businesses, as nobody wants to see their hard-earned capital disappear. The Caviar token is going to provide a safe “face value” to their new coin, so that it could be enjoyed by investors.

The proprietary Intelligent Predictive Model (IPM) is another key development by the Caviar team that allows users to use an AI-based approach for future forecasting and projection timescales.

“I bought my first Bitcoin five years ago. So I’ve been as excited as the next crypto enthusiast to see its’ value skyrocket in the last few months,” commented Kirill Bensonoff, partner at Caviar. “But as an entrepreneur entering my career right when the dot-com bubble burst, being educated on the ways of financial markets, and a Game of Thrones fan I may add, it definitely seems like winter is coming for the crypto market.”

He continued: “While I think it’s great that the mainstream is now paying attention with optimism in cryptocurrency, I think more investors need to start rethinking their diversification strategies within crypto by taking a tokenizing approach with other elements outside of crypto that are reliable and have sustained value.”

Caviar wants to be the face of the crypto real estate movement. Real estate developers can use the platform to raise money for their new projects and the native currency Caviar (CAV) token will populate the system. The platform is grounded on Ethereum blockchain, so it uses its innovative smart contracts approach, that automatically fulfills written contracts in an indigenous manner.

The Caviar token is undergoing a Token Generation Event (TGE) right now. The total amount raised has already crossed the $3 million barrier and the soft cap has been achieved. The crowdsale will end on January 31st, 2018. Token holders will be eligible for profit sharing from the earnings of the platform. The total crowdfunding the company is looking for is $25 million.

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