Verge (XVG) Fundraiser Faces Deadline Soon
18.3 million coins were raised, but the final sum may be far too ambitious for the community’s efforts.
The Verge (XVG) project is facing a quick-approaching deadline to secure a previously unannounced partnership. The funding target for this short-term community fundraiser is ambitious, 75 million XVG coins.
The leading developer of Verge, known as Justin Vendetta, or Sunerok, gave a rationale for the short-term fundraiser, stating that a longer period of a few months would lead to a loss of interest.
The fundraiser running in the past days lifted the price of XVG somewhat, to $0.039. But XVG has remained bound in that range for weeks now, after crashing from the peak at $0.15. In the past month, XVG has been sliding, with the occasional short-term spike in volumes and price.
As the markets turned to the red once again, XVG lost more than 11% in the past 24 hours, but was still up by 20% on a weekly basis. XVG trading volumes remain a fraction of the peak trading in December, and now, the project’s public image is a mix of failed hopes, but also a strong community of believers. Even John McAfee has stated that the $0.15 XVG price was an anomaly, and this price was possible only in the long term.
The Verge project has held fundraisers in the past. But this time, the goal of raising 75 million coins means that the partnership may never be announced. The business entity, which is not revealed, would also like to hold some XVG coins and be a part of the ecosystem, explained project developer Sunerok.
But the community seems to remain skeptical, and it is dubious whether the goal would be met in the coming hours. At this point, more than 2,000 individual Verge community members have made a donation.
Last Minute Investment?
It is possible that a large-scale donation saves the Verge project and finally, the partner would be known. A donation by TokenPay may lift the sum up to 75 million XVG.
What is known is that the partner would potentially bring traffic and new customers for real-life usage of XVG. Because XVG was a fairly mined coin, the team and community have no reserves for development. Yet the project has plans for innovation, taking XVG beyond the position of a simple coin, formerly known as DogeCoin Dark.
The fundraiser is completely unregulated, and completely voluntary.
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