KR1 Jumps Into The Spotlight With New Etherisc, FOAM And Althea Mesh Investments
Public funding blockchain investment company KR1 has jumped into the limelight with several new acquisitions. More than $200,000 kicked off the investment party when they purchased over 3.5 million FOAM coins. Operating on a Proof of Location, FOAM is used to give power to users through a permissionless-based, autonomously run the network.
Through an advanced radio wave beacon system, the company provides users with geo-location services which are not operated on a centralized network. FOAM’s token helps fuel the system, so users on it can continually use it for profit. KR1’s new investment into FOAM was made last year with an initial investment of $100k in FOAM tokens. The company now holds nearly 6.5 million of the company tokens, likely investing even more in 2018.
More so, KR1 made an initial investment of $100,000 into Alpha Mesh, a project started through Hawk Networks. Alpha Mesh uses ALGT Tokens to fuel their software platform that is known for helping groups gain access to the internet through a decentralized network. ALGT tokens are used to purchase service and needed equipment in which owners are rewarded for making personal contributions to the system.
The platform operates autonomously to find users the best cryptographic bandwidth in their area from multiple service providers on one singular platform. Users on the platform surf the web with anonymity, so their identity is never compromised – thereby reducing the risk of theft or fraud. ALGT tokens can be bought or sold to encourage more people to use the system.
“Working with KR1 has been a smooth process. They are thesis-driven and decisive. We are proud to be in their portfolio, among innovative companies such as FOAM, Funfair, and Cosmos.”
Jehan Tremback, Chief Executive of Althea Mesh
KR1’s last investment was made for $100,000 into Etherisc. DIP tokens on the network are used to buy and sell insurance on the decentralized system. Other uses of the network are to incentivize users to create and build new products related to insurance. Coverage on the network is designed for everything imaginable, including flights, health, and loans.
“Even in a market that has cooled significantly in recent months, we continue to see new teams forming, projects getting off the ground and the rate of innovation gaining yet more momentum. We’ve known the Etherisc team since the project’s inception and consider them to have what it will take to pioneer the way forward into decentralizing the insurance market, a potentially huge area for growth. With Althea Mesh we felt the team, the traction, and the technology were all in a strong position, and as blockchains have now potentially opened up this avenue of accessing the internet, we consider this model of sharing bandwidth will over time, become how we access the internet. Generally, we’re still very excited for what’s to come as blockchain technology continues to branch out and disrupt many business verticals and other areas of our society.”
George McDonough, Chief Executive Officer of KR1
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