LOS ANGELES, Oct. 13, 2017 /PRNewswire/ -- Karma, a blockchain technology company developing the Karma Protocol and Karma International Token (KIT) to empower membership-based communities, launched its token sale on October 10 and today announced that it has secured $4.1 million of the $5 million pre-sale goal in the first 48 hours since the launch.
Karma's mission is to share its proprietary membership and event management platform that is based on twelve years of refinement, 65,000 platform users, 374 events and $32 million in revenue. In the true spirit of karma, the company (Karma) will be giving access and customizing the powerful decentralized software to empower worthy organizations, membership groups and good causes to grow and scale worldwide.
"I'm inspired to see how well Karma's community has embraced our pre-token sale once we announced that we are putting our technology on the blockchain for millions to benefit from previously only elite organizations had access to," said Mike Costache, President of Karma.
Karma's pre-sale started at 21:00 PST on October 10th and ends at 11:59 PST on October 21. At 12 noon PST on October 21, the public sale starts and will last until 12 noon on October 31. On October 21 at 19:00 PST, Karma will welcome 3,000 members and guests to its 10th annual Halloween Party in Hollywood, California, in collaboration with Maxim Magazine.
Detailed White Paper and Executive Summary available on www.KarmaInternational.com
Established in 2005, Karma had the original mission of connecting exceptional, inspirational individuals socially and professionally through high profile experiential events, business networking, and social gatherings. For the past twelve years, Karma enjoyed revenues of $32 million (membership fees, sponsorship, and tickets) while offering 374 experiential events all over the world to their community of 65,000 people. Over the past three years, Karma built an advanced membership technology platform to allow scalability beyond the current nine chapters in Los Angeles, Miami, Las Vegas, Orange County, San Diego, San Francisco, Houston, Bucharest, and Kyiv.
In the era of decentralization, Karma's new mission is to provide its own Protocol to empower membership-based communities around the world, including:
- Physical membership organizations (golf clubs, social clubs, etc.)
- Virtual membership organizations (university alumni chapters, business networking organizations, etc.)
- Non-profit organizations, which lack the operational backbone (CRM, ERP, BI, etc.) to raise funds from their donor base transparently.
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