About 9 weeks ago, it was reported that Nauticus had successfully acquired as much as $16.8M through their ongoing Initial Coin Offering (ICO). While it was announced that the final stage of ICO will cease on May 18, it appears that from their website, a “bonus sale” will be made available on May 19. Also, the money raised appears to have gone down by $1.8M making it $15M instead. It seems unlikely that it’s a case of mistaken currencies between USD and AUD but this is the position Nauticus ICO is at currently.
Nauticus aspires to emulate Binance, a well-known Chinese cryptocurrency exchange that has launched its own coins mid last year. Binance has successfully grown the values of its exchange coins from starting out at 10 cents to a high of $22.76 and it was sitting comfortably at $19 in early May 2018. Binance’s success can be attributed to its accessibility as it listed on many exchanges as well as its low trading fees in comparison with other available exchanges at that time.
The Niche Offered by Nauticus
Nauticus claims to be the cheaper version of eBay’s PayPal for the cryptocurrency exchange arena. With increased transaction speed, more accurate exchange rates, and lower fees, Nauticus wants to be making it as seamless as a pizza order. And quite a personalized touch on the pizza too with the attempt to put together 7 fiat currencies and 100 cryptocurrencies all at the same place to be one of the world’s most functional payment platforms and cryptocurrency exchanges.
A Lofty Five-Year Plan
The Nauticus exchange is expected to launch by end of this month. The funds raised will be utilized to realize the goals of the company and having the right staff to make that happen. The lofty five-year plan starts with achieving the green mining blockchain centre status by 2019. An ecommerce platform is targeted to follow suit by 2020, a merchant’s payments platform by 2021, and a global know-your-customer (KYC) verification by 2022. By the fifth year of operations, Nauticus intends to be able to help other ICOs that are ready to launch to be listed on its exchange.
In all fairness there is a niche here addressed by Nauticus because cryptocurrency trading is still very much ay its infancy stage despite the many exchanges around. A well-integrated, low transactional fee, seamless, user friendly, and live market rates platform is simply not available as such. Nauticus may just make it much easier for all those people out there contemplating an entry into the crytocurrency-trading scene.