Steve Wozniak’s blockchain venture Efforce has listed its cryptocurrency token on the HBTC exchange.
What Happened: Efforce listed the token under the symbol WOZX on Dec. 3. It reached “$950M in the first 13 minutes, 10 times the listing price,” according to a company press release.
The company says investors have given it a valuation of $80 million valuation in private sales.
The WOZX/USDT pair was trading at 1.5250 (approximately 1.48 USD) as of Sunday afternoon, gaining 38,93% over the previous 24 hours at the HBTC exchange.
Why It Matters: Wozniak first mentioned Efforce in July 2019 at the Delta Summit in Malta, according to news publication The Malta Independent.
The company’s goal is to use blockchain to “improve the way we use energy and lower energy consumption without changing our habits,” Wozniak said at the summit.
Efforce plans to become a marketplace to help fund energy efficiency projects using blockchain. The projects will be able to get funded, getting crowd contributions from investors using Efforce's token WOZX.
The company is registered in Malta because the Apple Inc (NASDAQ: AAPL) co-founder said he had long wanted to invest in the region.
"It has been on my mind for decades. Like no other place in the world," he said.
Image: Gage Skidmore via WikiCommons
See more from Benzinga
© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.