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ICO platform COMSA raises over $65M in ongoing token sale

COMSA, a recently announced complete ICO fundraising and cross-chaining platform built on the NEM blockchain protocol, has raised over $65 million in its ongoing Initial Coin Offering (ICO).

The ICO started on October 2, 2017, and will run until November 6th, 2017. Token sale participants will receive 1 COMSA (CMS) token for 1 USD equivalent purchase.

According to the official website, CMS holders who bought their CMS from COMSA’s token sale drive will get to enjoy a premium bonus of 5% for every CMS they use to participate in the future ICO campaigns on the COMSA platform. Also, 5% of CMS tokens will be distributed as referral bonuses to token sale referrals.

The amount raised from the token sale will be used to fund the development of COMSA CORE system and expand its reach in a rapidly growing ICO market. Tech Bureau also plans to use the funding to accelerate the growth of its existing core businesses, which are the crypto exchange Zaif and the private blockchain product, mijin.

Recently, Japan Gibier Promotion Association chose to use the mijin blockchain, a NEM protocol blockchain, for the supply chain management of game meat. This marks the first government deployment of the mijin blockchain.

Earlier, COMSA website listed two upcoming ICOs by Premium Water Holdings and CAMPFIRE, Inc. However, the listings have now been deleted.

According to a COMSA's online update, the partnership with CAMPFIRE has been terminated. It said (loosely translated), "We thought that our previous relationship of trust between us and CAMPFIRE was destroyed and asked the representative of CAMPFIRE for explanation, but we could not get any explanation. As for us, since CAMPFIRE unilaterally destroyed our existing partnership relationships and trust relationships, we decided that it will no longer be possible to maintain or build further alliances, and we will inform CAMPFIRE of ICO and virtual currency transactions We notified that any negotiations on system provision has been terminated.”

By Shampa Mani
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