Coincheck Starts Dealing with Financier Token (FNCT)

FNCT listed on Coincheck

Coincheck, a crypto asset (virtual currency) exchange, started handling Financier Token (FNCT) on the 16th. At the time of writing, FNCT was trading at 1.25 yen compared to the 0.41 yen selling price of FNCT at the Coincheck IEO, recording an increase of about 3 times.

Source: Coincheck

Financier Token (FNCT) is a platform token of FiNANCiE, a token-issuing crowdfunding service that utilizes blockchain. It has a function to create a synergistic effect by playing the role of passing through the community token (CT) of each owner (individual, club, project) issued using FiNANCiE.

FNCT started selling as the second project at Coincheck IEO on February 21, 2011, surpassing the procurement target amount (1.066 billion yen) in just one hour, and the final application amount exceeded 20 billion yen. The application ratio reached 18.78 times.

connection:Reason why FiNANCiE chose Coincheck for token IEO (Part 1) | CONNECTV・Video commentary

Commencement of Community Token Holding

With the launch of trading on the Coincheck exchange, it is now possible to send and receive FNCT on the Coincheck platform. Coincheck only supports FNCT issued on the Ethereum blockchain. Since FNCT of polygon (MATIC) chain is not supported, it is necessary to be careful when selecting a network for remittance.

In addition, the “Community Token Holding” function, which provides incentives according to contributions to the activation of the FiNANCiE community, has also started on the 16th.

Community Token Holding is one of the incentive programs to revitalize the community of sports teams and creators active in FiNANCiE. FNCT is distributed based on the monthly active community ranking, and distributed to supporters (long-term holders) of CT (Community Token) issued by each community.

Source: Financier Co., Ltd.

The first time will be in early April 2023, and 12 million FNCT, which is 10% of the 120 million FNCT reward pool, will be granted.

FNCT will also launch a staking function around spring 2023. Users can participate by choosing a validator (a processing entity that verifies and approves data) and locking their FNCT, and receive FNCT as a reward. Details such as staking participation requirements will be reported later.

connection:“FNCT” Token Design and Coin Check Evaluation (Part 2) | CONNECTV/Video Commentary

What is FiNANCiE

FiNANCiE is a platform that provides token-issued crowdfunding and a community for sports clubs and creators to realize their dreams and goals with their supporters.

Sports clubs and creators issue community tokens (CT) as “owners”. Fans who purchase CT become members of the community as “supporters” and receive the right to receive limited benefits (participation in off-line meetings, limited goods, etc.) from the owner.

As of December 2022, there have been 86 cases of token issuance within Financier by sports teams such as soccer, baseball, and basketball, and the number of users has exceeded 80,000. The total market size of the primary market (issuance market) and secondary market (distribution market) is 2.52 billion yen.

FiNANCiE expands into the fields of entertainment and regional revitalization. Financier Co., Ltd., the operating company, has expanded into the IEO support business with a view to domestic expansion and global expansion of each project by utilizing the know-how that realized the sale of FNCT at Coincheck IEO. As a roadmap for FiNANCiE, we plan to expand overseas in the second half of 2023.

connection:Coincheck IEO Part 2, Explanation of Financier Token (FNCT)[Original Interview]

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