Blockchain platform Gather, recently raised $960k at the successful closing of its private sale round after being oversubscribed by over 25x. Gather leverages their technological expertise and helps corporates to unlock new ways to earn revenue. The platform was supported by leading blockchain funds including Bitscale Capital, TRG Capital, Master Ventures, and LD Capital.
Due to the surge in demand, Gather’s public sale was canceled. Token users interested in buying will now be able to buy tokens on September 14, at its listing on Bithumb Global. The platform’s initial market cap upon listing will be set at $592,000 in a critical move that restricted the funds raised by the company.
In an interview, 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 only to raise what we need to build and release our product suite, which we are confident will become the future of internet monetization.”
Gather was foreseen as one of the most promising Non-DeFi Launches of 2020.
Gather’s growth has been exceptional and has generated interest at par with some of the top DeFi raises over the past few months. The exponential growth is an encouraging sign of the industry’s commitment to encouraging products and teams that offer real-world pain points, apart from what’s trending. Gather is aimed to reinvent new strategies for website and application owners to monetize their traffic.
The product set-up of Gather comprises a three-layer ecosystem that encompasses
- Layer 0 – the hardware Layer – Gather Online,
- Layer 1 – the protocol layer, a hybrid proof of work and proof of stake blockchain – Gather Network
- Layer 2 – the application layer – Gather Cloud. Together, Gather’s ecosystem
Gather permits websites and applications to earn from clients who browse a site with the code implanted in it. This code enables the mining of cryptocurrencies with the client’s idle processing power, using a CPU or GPU. One of the employees – Jerath commented, “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 claims to have started with a simple mission: to fix the internet’s broken business model. It aims to leverage its expertise in cloud computing and blockchain technology, and combines “new and existing technologies” to unlock new revenue opportunities for its customers.