Dec 8, 2020
The co-founder of Apple Inc. and tech prodigy Steve Wozniak has introduced a new cryptocurrency token. The token was launched by Efforce, a crowdfunding company whose aim is to have holders share in the profits of global ventures that promote energy efficiency. Essentially, Efforce will facilitate green-energy investments via crypto and blockchain technology. In one of his statements, Wozniak explained,
“We created Efforce to be the first decentralized platform that allows everyone to participate and benefit financially from worldwide energy efficiency projects, and create meaningful environmental change,”
The token, named WOZX, takes its name from the genius behind it. The crypto is the Silicon Valley legend’s first venture after almost 50 years since he co-founded Apple. Wozniak has blended green energy and blockchain to create this pioneering token that has been surging on the market ever since.
— EFFORCE (@EfforceOfficial) December 1, 2020
The company had already raised roughly $80 million in private funding, but the market drove the cryptocurrency to a $950 million market capitalization within 13 minutes of being listed, according to Efforce.
Some background information
The company, Efforce, is registered in Malta – a country Wozniak claims he’s been interested in for over a decade. The company is co-founded by Steve Wozniak, Jacopo Visetti, Andrea Castiglione, and Jacopo Vanetti.
Is Efforce WOZX a good investment?
Globally, the returns on energy projects are approximately 20%. One of the co-founders, Castiglione, claims “the investment returns are predictable…but there is some risk involved…” referring to project risks as well as the value of the token.
The risks are also contingent upon the kind of projects that Efforce will accept. Castiglione says the company will handle the first 20 projects itself starting in the first quarter of 2021. The first two prospective projects are 9-megawatt industrial electricity, heating, and cooling plant in Italy and a hotel complex on the French Rivera. Efforce will then open up the platform to 30 partners in the energy services industry.
Additionally, cryptocurrencies tend to be very volatile, making them perfect for traders looking to make a quick profit. Still, they are also very mainstream these days meaning there is much demand for them. For instance, those who invested in Bitcoin at the beginning of the year have seen their investment return 170%. At the same time, those who invested in XRP saw returns of roughly 220%.
How can I buy the WOZX?
The WOZX is currently only listed on the Singapore-based exchange HBTC, with plans to launch on a Korean exchange shortly as well.
To buy the pioneering token, you will have to create an account with HBTC exchange, which is a swift and straightforward task. Next, you will need to purchase Tether coins (USDT), which you will use to purchase the WOZX. The new token is paired with Tether, which is a stablecoin pegged to the US dollar.
To purchase Tether coins, you will need to link your credit card to the account and click the “Buy”‘ button. If you already have Tether coins from other exchanges such as Coinbase, you can move them to HBTC to make the WOZX purchase.
The fast-rising crypto is trading around $1.40 – up roughly 1,300% from its initial price of $0.
Many are buying into the idea, dubbing it the next billion-dollar venture by Steve Wozniak. Quite frankly, Wozniak himself seems to be the factor that’s causing all the hype. That’s not to say that the concept and ingenuity behind the idea aren’t enough to propel it, just that the Silicon Valley legend makes it even more attractive.