- Fasttoken sells out 10 million tokens in 3 days, records $23.2million in a massive public sales.
- Fastex to introduce a new consensus mechanism that offers better rewards.
SoftConstruct, a gaming technology and services provider, attracted a large number of its respected investors to take part in its private token generation event.
The private sale was for Fasttoken (FTN), the native token for the Fastex ecosystem developed by SoftConstruct.
Earlier in December, SoftConstruct made it possible for partners and chosen investors to purchase Fasttoken for a restricted period of time. The selective access also came with an exclusive price of $0.28.
With a maximum commitment of $400,000 per investor, the second stage of the private sale offloaded about 10% of FTN’s total supply. Following the success of the private investment rounds, Fasttoken conducted its initial exchange offering for three days, starting January 18.
The public sale eventually came to an end on January 20 after initially selling for $0.38. The success of the sale pushed FTN above $0.42 shortly after. Per reports from Fastex, 10 million tokens were sold out in 3 days and total generated sales came to $23.2 million — making it a major milestone for the web3 ecosystem.
The team plans to use the recently raised funds to speed up the creation of their whole Web3-driven ecosystem, Fastex. It consists of Fastex Chain, Fasttoken, the ftNFT marketplace, Fastex Pay, and the ecosystem’s metaverse, called Fastex Verse.
Here’s what to expect from Fastex and Fasttoken in coming years
Meanwhile, Fastex and Fasstoken are committed to becoming a household name in the near future, with a strong roadmap expected to kickoff soon.
In February, the team will begin testing the ecosystem’s blockchain network, Fastex Chain. A new consensus mechanism will also be introduced along with the native token for the Fastex Chain. The new consensus mechanism, Proof-of- Stake-and-Activity (POSA), will be an upgraded version of the traditional proof-of-stake mechanism.
This new mechanism favors network users who concentrate on delivering value to their users through dependable block rewards. The subsequent increase in user base, will also increase effective activity, and block rewards.
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For individuals wishing to participate in the development of blockchain technology in the future, FTN represents an exciting prospect. The added value provided by POSA and the potential use cases of the Fastex Chain makes it exciting and enticing. Those who are still interested in buying FTN after the public sale, can do so through the Fastex Exchange.
FTN is at the core of Fastex’s web3 economy, which will also include aFastex Exchange for spot trading; ftNFT, an NFT marketplace; Fastex Pay for cryptocurrency payments; and FastexVerse, a gaming metaverse. Over 100 gaming platforms have joined with Fastex, and FTN will be a key component in powering their GameFi offerings.
