[NEWS] Turingum launches "Token 10 Initiative" to issue 10 types of tokens

Blockchain pioneer Turingum Co., Ltd. has announced the launch of the "Token 10 Initiative," a service to issue 10 new types of tokens in order to simplify token issuance procedures and enable the rapid development of Web 3.0 businesses using tokens.

The aim of this initiative is to support fundraising and the development of new business models through the use of tokens in specific industries and sectors.

Companies considering the development of Web 3.0 businesses using tokens will hold the issued tokens immediately after receiving the transfer of the tokens, making it possible to plan and distribute business using tokens and raise funds through IEOs.

The background to this initiative is that Turingum has been working on numerous token projects with the aim of bringing innovation to society and business using blockchain technology.

It has established a No. 1 position in Japan in terms of token issuance and listing both domestically and internationally.

However, the hurdle for companies in Japan to issue tokens remains high these days. In addition, the unfamiliar technical background of issuing tokens on the blockchain also serves as a barrier to entry for many companies into the Web 3.0 business.

In light of this situation, we prioritize companies' rapid planning and development of Web 3.0 businesses, and in order to omit the process of mastering the complex and costly blockchain technology and concepts related to token issuance, we will support token businesses by transferring formatted tokens that have been issued in advance by Turingum and are not in circulation or in an unused state.

In the Token 10 initiative, Turingum will take the lead in issuing 10 types of tokens specialized for each business type and industry.

In order to give each token its own characteristics, we will adjust the design, such as the total number of tokens to be issued. The 10 types of tokens will be transferred to partner companies to be selected in the future, and will be useful for fundraising and developing Web 3.0 businesses.

IEO possible through cryptocurrency exchange Zaif

In addition, these tokens will be reviewed for IEO (Initial Exchange Offering) through Zaif, the cryptocurrency exchange of Turingum's parent company, the Kushim Group, and aim to be listed.

This will support the procurement of business growth funds for companies aiming to acquire an industrial base using Web 3.0 technology.

Another benefit is that while the hurdles to issuing new tokens and circulating them on domestic exchanges are normally very high, this service can reduce those hurdles and human costs to the extreme.

In addition, Turingum, which has supported many token projects, can provide comprehensive consulting, not only from a technical perspective but also in areas such as accounting audits and dealing with related laws and regulations, ensuring a smooth listing.

Companies that wish to introduce tokens apply to Turingum as a "partner." Turingum will then consider a token utilization model together with the selected partner company and transfer the tokens to them.

Reference: Announcement
Image: Quote from the announcement

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