Aspire Technology, the developer of the Aspire digital asset creation platform, announced on September 24, 2020, that it had managed to raise over $2.4 million from investors. The funds came from an equity-funding round where it raised $1.75 million and a private token sale where it raised $1.23 million. Michael Terpin, the chairman of Aspire technology, was the one who made the revelation. In 2017, he led the pre-seed equity-funding round through bCommerce Labs where the company also raised $260,000.
Details of the Recent Funding
Foeckersperger Ventures, GmbH, and various accredited investors led the recent equity round for Aspire Technology, Inc. The private token sale took place in Bermuda and was led by Alphabit Fund, a digital currency fund registered in the Cayman Islands. However, American investors were barred from taking place in the token sale.
The Value Proposition of Aspire
According to Jim Blasko, the Aspire Technology CEO, once consumers begin to see how inexpensive and easy it was to create a digital asset, everyone would want one. He said that anyone with a small business, personal blog, or social media presence, would soon want to create one.
He noted that instead of asking for followers on social media, businesses could soon reward their clients with tokens in their loyalty programs. People would also start creating digital collectibles, fan clubs, and many other use cases at a low cost. According to him, their permanence, international transaction capabilities, low cost, and track-ability, would soon make digital assets mainstream.
Aspire Went Live in July
The Aspire mainnet was launched recently. There is an ongoing airdrop to prospective token creators. These tokens will be sent to anyone that joins the Aspire Community on Telegram. Aspire comprises of Aspire (ASP), which can only be accessed via the airdrop.
The first 10,000 users will get enough ASP and Aspire Gas (GASP) to create a digital asset, each of which can contain up to 92 billion tokens. Aspire Gas will be used in the same manner as Bitcoin is used in counterparty, a platform for 30 of the top 100 tokens by market cap in 2014-2015.
About the Aspire Platform and Aspire Technology
Aspire Technology is a major developer of digital asset creation technologies. The company came out of the bCommerce Lab incubator and received other early support from angel investors. The Aspire platform includes the Aspire (ASP) platform for the creation of digital assets and the Aspire GAS (GASP) blockchain. Back in early August, Aspire Technology had launched the first digital asset creation platform, which leverages proof-of-work mechanisms.
The platform was the first in the world to be resistant to both 51 percent attacks and mining exploits. These issues are common with proof of work blockchains. It means that the platform is not vulnerable to 51% attacks such as the one that recently hit Ethereum Classic, which was the 25th largest digital asset by market cap at the time. During the attack, around $2 million worth of tokens were stolen.
By lowering the barrier to entry regarding token creation, Aspire could fuel mass adoption on a global scale. As discussed above, if creating a digital asset is seamless, it can help companies monetize their business model and offer better user experience. In an era where many companies operate on thin margins, introducing digital assets into the mix could be both a value add and an inexpensive competitive advantage. Aside from businesses, the integration of digital assets can be lucrative in other areas such as blogs, social media, digital collectibles, and many others.