After only five days of trading, the newly-launched token WOZX has recorded 26X gains, which is a magnificent increase of 1,400% in value for a period of less than a week.
WOZX, the new token of Apple co-founder Steve Wozniak, registered an astonishing run in the price increase up to almost 26X last week, besides doubling its price today. Since its first being listing on the HBTC exchange on Dec. 3, WOZX price has been up 2,490%. At the time of opening, it was trading at 10 cents per token, but now it is at $2.59. Trading of the token on Bithumb, the Korea-based exchange, will commence on Dec. 9.
— EFFORCE (@EfforceOfficial) December 1, 2020
Earlier this year, private funding rounds for the token were conducted, putting its initial valuation to be at $80 million, while currently there are a total of one billion tokens in supply. According to a press release by an eponymous company behind the token Efforce its market cap soared to $950 million “in the first 13 minutes” of trading.
WOZX Token with Its Growing Price
Efforce touted as “the first blockchain-based energy-saving platform,” securitizes energy savings via Ethereum blockchain token WOZX. Wozniak has stated that it is the second blockchain-related venture since co-founding Apple back in his parents’ garage in 1976.
“We created Efforce to be the first decentralized platform that allows everyone to participate and benefit financially from worldwide energy efficiency projects and create meaningful environmental change,” Wozniak said.
In carrying out its mandate, Efforce is not geared towards disruption of the current routine or human behavior but encourages a meaningful reduction of energy consumption. Contributors in the platform who desire to participate in energy-saving projects will use WOZX tokens and get rewards based on the energy amount saved. With Efforce, both small and large investors can access the energy efficiency market for the first time and undertake energy efficiency measures at no cost, thereby rediverting their liquidity to more critical tasks.
Jacopo Vanetti and Jacopo Visetti are other co-founders who joined Wozniak at Efforce to serve as CTO and Project Lead, respectively. Founded in 2019, the company is situated in Malta, one of the nations that have been friendly to blockchain-based enterprises.
Democratizing the Energy Market
Visetti described in a Dec. 4 announcement that how Efforce will connect investors with energy savings projects, thereby helping democratize the energy efficiency market.
He stated as follow:
“Energy efficiency is a way to create a sustainable future, and this is a way to help counter climate change, reduce carbon — and make money while you do it.”
According to him, business owners could safely register their energy upgrade projects on the web and get funding from various kinds of investors worldwide. Meaning, more available cash will be available for companies to use for other critical projects like hiring or infrastructure.
In Oct. 2018, Apple’s Wozniak cofounded EQUI Global, a blockchain-based capital venture fund, as reported by Verdict, a global business outlet. The venture capital fund built on a blockchain-powered backend uses blockchain technology to disrupt the traditional venture capital and funding sphere. Ethereum blockchain-based EquiTokens allowing “sophisticated” investors relying on the fund to easily raise capital on a project-by-project basis.
James Lovett is a talented crypto enthusiast who finds pleasure in sharing more knowledge on fintech, cryptocurrency as well as blockchain and frontier technologies. He likes to keep himself furnished and updated with the latest innovation in the crypto industry, blockchain technology, Internet of Things (IoT) and other technologies. As a result, he tries to furnish ardent crypto supporters with the latest news on blockchain and distributed-ledger technologies. Indeed, Blockchain and Cryptocurrency is changing the world as we know “one block at a time”. As a hobby, he also trades in small amounts of cryptos every now and then.
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