The NAGA COIN (NGC) is an ERC20 based cryptocurrency designed for trading, gaming, and virtual goods.
Concept and the NAGA Group
The cryptocurrency is closely connected to the publicly listed NAGA Group AG, a German FinTech company. NAGA COIN serves as a decentralized unit of account for the “NAGA Ecosystem.“ In this function, the NAGA COIN aims to unite the markets of cryptocurrencies, financial instruments, and virtual goods. It connects the different services offered by NAGA, for which it is accepted as a base currency. Users of NAGA services profit from special advantages when using NGC. This way, the token is supposed to profit from rising demand as the different NAGA platforms grow.
These services include:
NAGA WALLET, a crypto wallet which supports major cryptocurrencies and ERC20 tokens and offers the possibility to send payments via email.
NAGA TRADER, a social trading platform which offers access to 700 financial instruments, including stocks, ETFs, Forex, and cryptocurrencies, as well as a customizable robo-advisor, CYBO.
NAGA CARD, a crypto-based MasterCard.
Furthermore, the company owns an exchange for virtual goods and in-game items called Switex, which is currently in beta mode and will support NGC as a payment method.
The Token Sale & Listings:
The initial offering took place in form of a token sale, starting December 1st 2017 and closing on December 15th 2017. In advance, investors were able to buy a maximum of 20 million NGC with a bonus of 30% during a pre-sale which started on November 20th. The token sale was backed by 63,000 participants, making it the second most successful token sale of 2017 in terms of investors.
Based on the result of the token sale, the total supply of NGC amounts to 77.910.266 tokens.
Within one week of the token sale, NGC was listed on HitBTC on December 23rd 2017, followed by additional listings on Okex and Cobinhood in January 2018. Since April, NGC is listed on Changelly and Cryptology as well.
The live NagaCoin price is available on COIN360 widget: