LOS ANGELES, Oct. 20, 2017 /PRNewswire/ -- Karma, the world's first decentralized Smart Community Network, which uses the Karma Protocol and Karma International Token (KIT) to empower membership-based communities globally, announced today that various members of the Blockchain Investors Consortium (BIC) have contributed $300,000 to its pre-token sale.
Token-as-a-Service (TaaS) Fund, Krypton Capital and other investors wishing to remain anonymous have contributed a total $300,000 to Karma's Pre-Token Generation Event (TGE). Together with additional contributions made over the past eight days of the pre-token sale, this brings the total close to the $5 million goal for the pre-TGE. The 10-day period of the pre-TGE ends on October 21 and Karma's 10-day TGE starts on October 21 at 12 noon PST.
"The contribution to Karma's pre-token sale is a great diversification of the fund's portfolio while enjoying reduced risks given the fact that management has been together for over a decades and generated revenues of $32 million. Over the past year, I worked very closely with Karma's president, Mike Costache, on numerous projects. Mike has been a very active advisor to TaaS, and I have been actively advising Karma on the development of its Protocol," said Ruslan Gavrilyuk, co-founder & CEO of TaaS Fund.
Karma will provide its Protocol to other membership-based communities around the world, including physical member organizations, virtual member organizations, and nonprofit organizations. Karma's technology will allow these membership-based communities to more efficiently operate and grow as well raise funds from their donor bases in the case of non-profits.
"Our investment philosophy is all about smart money and providing financing with unmatched value through our experience, resources and an ecosystem that helps your idea thrive. I look forward to working closely with Mike and the entire Karma's team to allow so many membership organizations to benefit from what only elite organizations have access to today," said Ilan Tzorya, founder & CEO of Krypton Capital.
Individuals will use the Karma International Token (KIT) to vote on business items, membership, relevant dues, and purchases. The KIT will allow membership organizations to launch, manage, build and operate on the Karma Community Network (KCN) as a thriving and sustainable ecosystem, all with customizable modules and necessary support.
"I welcome these recent contributions from TaaS Fund, Krypton Capital and other individual investors from the Blockchain Investors Consortium (BIC). It's been a pleasure working with these sophisticated investors who contributed a lot more than capital to bring the Karma Protocol to its current phase," said Mike Costache, President of Karma.
Karma is a blockchain technology company now sharing with the world its proprietary membership and event management platform, derived from 12 years of refinement, 65,000 platform users, 374 events and $32 million in revenue. Karma will give access and customize its best-in-class decentralized software to empower membership organizations to help them operate more efficiently and grow to their full potential.
Established in 2005 as is a membership driven organization to connect exceptional individuals through business networking and social gatherings, Karma has since generated revenue of $32 million from membership dues, partnership programs, and event ticket sales. There are currently nine active membership chapters worldwide in Los Angeles, Miami, Las Vegas, Orange County, San Diego, San Francisco, Houston, Bucharest, and Kyiv, with plans for continued growth.
Detailed White Paper and Executive Summary available at www.KarmaInternational.com.
About TaaS Fund
TaaS is the first tokenized closed-end fund that allows its investors to capitalize on the rise of Blockchain markets. Utilizing Ethereum blockchain and its Cryptographic Audit technology, TaaS offers a brand new comprehensive approach to capital raising, fund management, and auditing with full transparency for its investors. TaaS is currently trading on Liqui, LiveCoin, and HitBTC. TaaS was co-founded by blockchain pioneers Konstantin Pysarenko, Ruslan Gavrilyuk, Dmytro Chupryna, and Maksym Muratov and has professional team members from the USA, Ukraine, Poland, Romania, South Africa and China. For more information, please visit www.taas.fund.
About Krypton Capital
Krypton Capital is an early-stage investment firm focused on blockchain ventures. The founders' investment experiences span multiple sectors, including IT, Media, Cyber Security, and Blockchain. The fund has a portfolio of close to 50 investments. For more information, please visit www.krypton.capital.