NEW YORK, Feb. 8, 2018 /PRNewswire/ -- Today, COBINHOOD, the next-generation cryptocurrency service platform and zero-fee exchange, announced a collaborative partnership with blockchain-based eSports ecosystem startup J Token to underwrite and advise the launch the company's initial token offering. The ticker for J Tokens is JTK and will have a total distribution of 10 billion tokens, 3 Billion of which will be allocated to the initial token offering. All funds received from the IEO will be used for the development of the JTK Project. As part of COBINHOOD's ICO/IEO Underwriting Services, the offering consists of business model consulting, smart contract code review, legal compliance, deployment procedures and marketing support.
The eSport ecosystem is comprised of many different elements; it includes not only the teams and players that compete, but broadcasters, hosts, sponsors, publishers, brands, and fans as well are expected to create a $1.5 billion industry by 2020. J Token represents a giant leap in the evolution of current live stream systems. By integrating competitions, donation mechanisms, competition data, competition ratings, marketing sponsorships and more, J Token will become a complete eSport ecosystem that is able to support interaction and resolve conflicts between the diverse parties within the eSport world including teams, sponsors, hosts, players, and fans. As its content and services grow and mature along with the platform, the pioneering J Token broadcast platform has the potential to become a figurehead within the eSports universe, bringing with it a giant leap in profitability for eSport product manufacturers.
"The eSport industry's rapid growth has resulted in a number of inefficiencies that affect every party involved, from fans to talent. The J Token Project sees an opportunity to partner with everyone from professional teams looking for new talent, pro gamers seeking sponsors, commentators looking to break into the space and so much more," says David Cheng, CEO of J Token. "We're excited to move through the token offering process to use the power of blockchain to provide a clear and dependable system that the entire ecosystem can use to break down the barriers of communication."
ICO and IEO tokens underwritten by COBINHOOD can be traded on COBINHOOD zero-fee exchange immediately after ICO, which solves ICO tokens' low liquidity issues. J Token's IEO will start February 13 and continue until March 12, 2018. The anticipated launch of the J Token platform will be April 2019.
"The team at COBINHOOD is steadfastly excited to partner with J Token as they undergo the IEO process this February," says COBINHOOD CEO Popo Chen. "The eSports industry, with all its incredible growth, was ripe for disruption and the J Token Project's blockchain-based solution will be a game changer for the space. We look forward to a successful engagement with J Token as they build a platform that will enable eSports team to discover emerging talent and empower brands to grow within this digital industry."
Launched in 2017, COBINHOOD is a next-generation cryptocurrency service platform. COBINHOOD is home to the world's first zero-fee, high-frequency cryptocurrency trading platform. The company was founded by Popo Chen, the original founder of '17 Media', with the intention of shaping future economies by creating a financial center for the blockchain era. COBINHOOD believes the evolution of blockchain technology and a decentralized financial landscape will transform global capital markets and business organizations with long lasting impact.
ABOUT J TOKEN
J Token is a new platform that serves the entire eSport ecosystem, including professional teams, sponsors, live stream hosts, fans, and all gamers from the amateur to professional level. By integrating gaming and blockchain technology, the J Token platform will help reduce the cost of gaming teams to reach new potential talent, it will make it easier for product sponsors to find the best spokesperson for their brand, and it will link live stream hosts, players, and their audience efficiently.
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