FUZEX: 40,000ETH HARD CAP REACHED
FuzeX successfully closed its pre-sale
We reported on “The Future of Payment” on January 28th. In our article we took a close look at the features of FuzeX Card.
FuzeX published its announcement on medium.com this week:
“The FuzeX Pre-Sale officially finished on Friday 2nd February 2018. During the Pre-Sale period a total of 20,000 ETH was raised.
This combined with the 20,000 ETH raised during the Private Sale, signified the reaching of our Hard Cap in ETH terms (40,000 ETH).
As previously stated due to the volatility of ETH prices, we would take a two week average price of ETH and calculate an average ETH price based upon that. The two week average ETH price was calculated from the date two weeks prior to when we reached our hard cap. (20.01.2018–02.02.2018).
The Average ETH Price in the two week period was $1,074.40.
The two week average ETH price was calculated to be $1,074.40, which equates to an average hard cap USD equivalent of $42,976,171.43. As stated in our White Paper and in our previous posts relating to our hard cap, our aim was to raise the ETH equivalent of $40 to $45 million USD. This amount ensures our full vision will be brought to market.
Using the calculations above, and also factoring in the continued volatility of ETH (and community sentiment too), we have decided not to proceed with the General Sale. So, in the simplest of terms: the General Sale will not go ahead.
Again, we’d like to thank everybody who participated in the FuzeX Private and Pre Sale. Without you, FuzeX would not be possible. We’re incredibly grateful and humbled by the support that we have received.”