Bitcoin News: Magma VC invests $400,000 in GetGems, the social messaging app with a built-in Bitcoin wallet
8 January 2015, 18:11
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GetGems, the social messaging app with a built-in Bitcoin wallet, have
announced that it has raised $400,000 from venture capitalist Magma
Venture Partners. With the latest fund Gems, a new social messenger
service that includes Bitcoin wallet and rewards its users for the use
of the messaging service, thanks to its own altcoin named GEMZ, will
further expand its reach.
The company says that users can transfer the GEMZ to other messaging users or withdraw them. On the other hand, Magma VC is trying to invest in the widely anticipated crypto 2.0 projects, which seeks to incentivize social messaging users through the use of GEMZ, a native token issued on Counterparty that allows users to profit from the platform’s growth.
The Funds Will Help GetGems Scale Faster in Competitive Market
According to him his organization felt Gems has very good characteristics in all four parameters. Also as chat and value transfer is a growing trend; the company will further gain traction in the segment. He believes that GetGems was attractive as it is not wholly dependent on the price of Bitcoin, but rather leverages its technological benefits to provide value for consumers.
He says that the company is looking for investments that control their destiny on their own and create new solutions and value. Also, according to him his organization is seeing now is not directly on Bitcoin, it’s more trying to leverage the benefits of the technology for new use cases and capabilities.
The company says that users can transfer the GEMZ to other messaging users or withdraw them. On the other hand, Magma VC is trying to invest in the widely anticipated crypto 2.0 projects, which seeks to incentivize social messaging users through the use of GEMZ, a native token issued on Counterparty that allows users to profit from the platform’s growth.
The Funds Will Help GetGems Scale Faster in Competitive Market
According to him his organization felt Gems has very good characteristics in all four parameters. Also as chat and value transfer is a growing trend; the company will further gain traction in the segment. He believes that GetGems was attractive as it is not wholly dependent on the price of Bitcoin, but rather leverages its technological benefits to provide value for consumers.
He says that the company is looking for investments that control their destiny on their own and create new solutions and value. Also, according to him his organization is seeing now is not directly on Bitcoin, it’s more trying to leverage the benefits of the technology for new use cases and capabilities.
