HONG KONG, May 24, 2018 - (ACN Newswire) - G2H2 Capital ("G2H2") signed an agreement with AnApp Blockchain Technologies Limited ("AnApp") to purchase an undisclosed amount of IOTW tokens (a new cryptocurrency for IoT applications).
G2H2 Capital is a US based digital-asset investment firm with deep Stanford University connections. The majority of G2H2 main funds' portfolio consists of pre-ICOs and ICOs. This strategy attempts to realize the upside potential of early stage investments in this asset class within a relatively restricted time frame. For example, Venture Capital LP cycles stretch 7 to 10 years to capture the early stage exit returns that pre-ICOs can generate in just 6-months' time. G2H2's purchase of IOTWs from AnApp is a confirmation that the upside potential of IOTW tokens is being recognized by the market.
"The General Partner of G2H2 Capital, Dean Patrick, has an academic background from Stanford University and also has strong connections with students working on blockchain related research and having blockchain investment interests. Dean has personally participated in over 40 pre-ICOs and ICOs. I am glad that Dean decided to purchase IOTWs in view of our clearly groundbreaking growth potential. AnApp's micro-mining software can be loaded on and will not increase the hardware costs of IoT devices in most designs, which is crucial for rapid consumer adoption. In addition, AnApp will work with different IoT semiconductor vendors to embed the IOTW mico-mining software into their chipsets for set top boxes, TVs, white goods, wireless LANs, etc to deploy IOTW blockchain in high volume. Many of these single designs can individually deliver over 10 million chipsets," Frederick Leung, co-founder and CEO of AnApp said.
Dean Patrick, General Partner of G2H2 Capital: "The market IOTW enters is among the most exciting growth industries and adds value in the blockchain space. Within the sector, IOTW outpaces competitors in terms of vision as well as execution strategy. IOTW enables IoT devices to receive all blockchain rewards through micro-mining from IOTW network to encourage adoption without adding hardware cost to the IoT devices. This will create end user pull towards adopting IOTW technology. I am very excited to be adding IOTW to our fund portfolio."
AnApp is developing the IOTW (IoT World) cryptocurrency and blockchain software which will run on most IoT devices. The micro-mining software can be embedded into different IoT chipsets and also downloaded into existing IoT systems through firmware updates. AnApp is planning an ICO launch in the near future.
For more information about IOTW, please visit www.IOTW.io
Topic: Press release summary
Sectors: Daily Finance, Enterprise IT, Currencies, FinTech/Chains
From the Asia Corporate News Network
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