What is Bobcoin Doing?
Disclaimer: The text below is a press release that was not written by Cryptonews.com.
As cryptocurrency becomes legitimized, more and more companies are using crypto as a go-public strategy. Overstock (200m market cap), massive American retailer, started the trend when it launched its ICO (or “Initial Coin Offering”) token via its self-developed tZero digital asset platform in 2017. Since then, other large companies like blockchain technology developer Dignity Gold (USD 3.1b market cap) and financial services provider Societe Generale (USD 113m market cap), have joined the fray. Now, companies from all sectors are using crypto to raise funds.
Bobcoin, a crypto token launched by the company Bob Eco, is currently preparing to go public in mid-April. The pre-listing price is expected to range between USD 1.45 and USD 1.50; interested parties can buy Bobcoin early via launchpad and decentralized exchange pre-sales. The list of launchpads and decentralized exchanges is currently pending.
Bob Eco has been providing microfinance and poverty relief since 2017. In 2018, Bob Eco began financing motorcycle taxis, soon developing a state-of-the-art electric motorcycle powered by two massive lithium-ion batteries, something that is non-existent on the African continent and is an absolute game-changer in the battle against pollution and climate change. Bob Eco developed this motorcycle together with Jincheng-Suzuki. To date, the companies have developed a range of many powerful electric vehicles, from Tuk-tuks to electric cargo tricycles. The vehicles are powered by swappable batteries, which can be swapped at any one of Bob Eco’s battery stations in under a minute.
With its winning formula, Bob Eco had all the opportunities to become an electric vehicle juggernaut in developing countries. To grow, Bob Eco initially launched Bobcoin in March of 2021 with each token representing one share. Investors raised tens of millions of dollars for a 24% stake in the company. This funding has allowed Bob Eco to ramp up production and create over 300,000 jobs with its electric vehicles. Bob Eco plans to scale up its current fleet to 2,000,000 electric motorcycles by the end of 2025.
To scale up the fleet, Bob Eco’s next round of funding will be done through something it calls an “ICOWA” or “ICO With Assets”, in which the crypto community buys ICO utility tokens that each represent real assets in Bob Eco. Each Bob Eco ICOWA token grants holders ownership over a small part of Bob Eco and its future success. Token sales will effectively be used to purchase new assets like electric vehicles, which will then be leased out to vehicle users. These assets back the token value and let the company grow stably.
With this additional funding, Bob Eco will be ready to take on Africa’s 600-billion-dollar motorcycle market. In preparation, Bob Eco has built a new facility that’s capable of generating hundreds of thousands of units per year. Combined with its contract with Jincheng-Suzuki for 200,000 units per year, Bob Eco is geared up to meet demand. Already, Bob Eco has made deals across Africa, including a deal for 232,000 units with the Senegalese government. Bob Eco’s total deals currently exceed 360,000 units annually, a figure that is set for a volcanic rise post-ICOWA.