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Gather Raises $960k in 25x Oversubscribed Private Sale, Will List on Bithumb Global on September 14

Gather Network
·3 mins read

British Virgin Islands, Sept. 11, 2020 (GLOBE NEWSWIRE) -- Gather, a blockchain platform that allows publishers to monetize without ads and provides businesses & developers access to cheap and reliable processing power, has announced the successful closing of its $960k private sale round after being oversubscribed by over 25x. Gather was supported by leading blockchain funds including Bitscale Capital, TRG Capital, Master Ventures, and LD Capital.

  • Backers include Bitscale Capital, TRG Capital, Master Ventures, and LD Capital

  • Gather’s public sale was cancelled due to overwhelming demand

  • Initial market cap upon listing set at $592,000

Due to overwhelming interest, Gather’s public bonding curve sale was cancelled. Interested token buyers will be able to buy tokens on September 14 following Gather’s listing on Bithumb Global. Gather’s initial market cap upon listing will be just $592,000 in a strategic move that limited the amount of funds raised by the company.

Gather’s CEO Reggie Jerath explains, “After putting in over two years of consistent work on Gather, we are thrilled to have a launch in place and to be supported by some of the best investors, partners, and community in the industry. It was important for us to only raise what we need to build and release our product suite, which we are confident will become the future of internet monetization.”

Gather is One of the Most Highly Anticipated Non-DeFi Launches of 2020

Gather’s raise and interest is unique as it is not a DeFi solution and has generated just as much interest as some of the top DeFi raises over the past few months. This supports the notion that the industry is also committed to supporting products and teams that are solving real world pain points, not just trendy opportunities. For Gather, the goal is to change the way website and application owners monetize their traffic

Gather’s product suite comprises a three layer ecosystem that includes layer 0 being the hardware Layer - Gather Online, layer 1 being the protocol layer, a hybrid proof of work and proof of stake blockchain - Gather Network, and layer 2 being the application layer - Gather Cloud. Together, Gather’s ecosystem

Gather allows websites to earn from users who simply browse a site with our code embedded in it to mine cryptocurrencies with their Idle processing power, using a CPU or GPU. Jerath adds, “For the first time in history, we have developed a powerful new technology that allows web and mobile developers to earn money through processing power contributions.”

About Gather: Gather started with one simple mission: to fix the internet’s broken business model. Leveraging their expertise in cloud computing and blockchain technology, Gather is in combining new and existing technologies together to unlock new revenue opportunities for everyone. Gather is doing this by building a state of the art three Layer ecosystem.

Media Contact: Ayhan Gungor, ayhan@gather.network

Website: https://bit.ly/GatherNetwork1
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