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MXC, an ambitious crypto start-up building the world’s largest free wireless IoT Network, raises almost $100m from institutional crypto investors.
Berlin-based MXC Foundation’s goal of achieving the world’s first open and free IoT data network coverage takes a tangible step closer to reality as the Foundation and its global mining community receives strong support from institutional crypto investors.
MXC’s impressive list of big-ticket investors has supported the MXC Foundation since its 2018 inception. Within just a short time, backers such as Huobi, VeChain, German capital investment firm Atlantic Labs, LongHash as well as key advisers such as famed New Yorker, Jeffrey Wernick, (early-round Uber and AirBnb investor), have reconfirmed their bullish investor sentiment towards the MXC Foundation. This is most likely due to the company’s lightning-fast progress, building a unique, free IoT Smart City network as well as developing multiple, sustainable revenue streams based on IoT data and Web3 infrastructure models.
The MXC global infrastructure was given a major boost in May this year when Alibaba officially announced MXC Foundation as a fully recognized member of the “Alibaba IoT Connectivity Alliance” (ICA), marking the first time Alibaba granted ICA membership to any blockchain IoT project. Alibaba has been hailed for their new-age investment strategy, focusing on a portfolio covering Blockchain technology providers, as opposed to a pure token strategy. This approach allows the global giant to continue to support up-and-coming Blockchain solutions of the future, avoiding government regulations surrounding tokenization.
This milestone investment round is anticipated to be followed by a trifecta of big releases in the coming months. MXC investors’ key focus is on the 3-piece roll-out of MXC data payments, community-wide Bitcoin mining and the highly anticipated, patent-pending device provisioning method which is forecast to earn MXC and its investors a substantial piece of the trillion-dollar data world pie.
Many of the aforementioned institutional investors have been waiting patiently for the MXC Foundation’s global roll out of their intricate MXProtocol data network infrastructure; however, it appears that their strategy is now paying off. The M2 Pro Miner, the device attributed with the networks massive global reach, has managed to beat their own internal targets, fast-tracking the Foundations global footprint.
The current coverage and market saturation across Europe (Netherlands), China (Beijing & Shanghai) as well as strong coverage across the United States (Bronx, Manhattan, Colorado and East Los Angeles) is taking shape faster than even the MXC Foundation projected. This is evident by the fact that their flagship miner sells out as soon as new shipments arrive.
The M2 Pro miner has an incredible network reach of over 15 miles as well as extremely low energy costs (2.7 Watt). Combining these attributes turns the MXProtocol and the MXC Foundation LPWAN infrastructure into a Smart-City, IoT, blockchain, Edge Ai and soon-to-be-released NFT force to be reckoned with.
This latest large investment into the foundation will turn their network into a front-runner in network coverage. It is also strongly anticipated that this will reflect in their price, which has often been referred to as “extremely undervalued” at its current value of 2.3 (US cents) as stated by serial investor Jasmine Zhang from AT&T Capital.
The investment, combined with their highly anticipated Q4 releases, are expected to further bolster the mining community and investor support of MXC, in an attempt to take their seat as the global leader within IoT and smart city network coverage.