Initial Coin Offerings have emerged as a useful tool for raising funds, for the development of blockchain projects. However, the proliferation of ICO scams has left a sour taste in many people’s mouth, a development that has seen the cryptocurrency craze subside in recent months. Estonia based NAFEN Fibers is hoping to change all this, as it carries out a public token sale on a high tech material, Nafen.
What is Nafen?
Unlike in the past, it has become increasingly difficult for projects to raise funds through ICO’s without a product and a clear development plan. The development seems to be working to the advantage of NAFEN, which already has a product that it is using to raise additional capital for its development.
Nafen, for those who don’t know, is a material developed by a unique technology of synthesized aluminum oxide nanofibers. The fibers can change the chemical and mechanical properties of different materials thereby giving them superpowers.
The fibers have already found use in the automotive and electronics industry and are also being used as building materials and in marine construction. Nafen can be used with a wide range of ceramics as well as polymers and concretes to make them last longer while increasing their usage due to low maintenance cost.
Nafen is the only class of nano-fibers that can be used for the development of polymer-based materials. Polymer materials developed by Nafen have increased strength when it comes to compression, tensile, flexural and interlaminar shear. The materials also depict toughness in terms of impact and fracture properties in addition to being fire resistant.
Nafen Blockchain Project Video
In March, Nafen Fiber opened a closed round ICO for the Nafen project. The company sought to raise €14 million from the offering, for the construction of a new high tech nanofibers plant that meets the needs of markets in Asia and Europe.
The platform has already developed a blockchain currency, NFN token that will operate as a voucher. Token owners will be able to exchange their tokens for the platform’s material. In addition, the token can be sold to other people looking to purchase nano-fibers from Nafen.
The Token is to be listed in different crypto exchanges where people will be able to buy and sell the tokens at a market price.
With the ICO, Nafen Fiber joins the list of successful projects in the real sector of the economy that have sought cryptocurrency investments, to bring to market a proven product.
Reasons to Participate In Nafen ICO
Unlike other ICO projects, Nafen is a proven product that has the potential to revolutionize various sectors. That said, this is a legit ICO that is backed by an actual product. The value of the NFN token could gain significant value as the company moves to market the underlying product it powers.
In addition to the Nafen fiber product, the platform boasts of other projects that are in chemical and advanced material production stage. NAFEN is also collaborating with known market leaders who are poised to act as a market for nano-fibers. That said, Nafen project should be operational for many years to come, unlike a good number of ICO projects that have collapsed.
The firm is currently in the process of building a production plant that will have a capacity of more than 80 tons annually. The plant should accelerate the acceptance of Nafen because of its economies of scale, something that should have an impact on the value of the underlying NFN token.
The fact that Nafen can be tokenized, as its nanofibers are a unique patented material that cannot be faked or reproduced, makes the project a promising participant in the blockchain sphere.
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