Backed Native Token (BKD) Could Give Bitcoin A Run For Its Money

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Backed Native Token (BKD) Could Give Bitcoin A Run For Its Money
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Backed, a blockchain-based investment platform is allowing investors to speculate on the future of private companies by buying and selling their company coins. 

Launched earlier this month, Backed is designed to allow users to invest in the private companies of their choice by buying and selling their native assets called, CompanyCoins. Working similarly to stocks and shares, the reputation of each company coin will be determined by the number of coins in circulation that result in the rising and falling of their prices. 

Commenting on the project, Lee Betts, Founder at Backed explained:

“For too long, speculating on the next big startup has been reserved for a select number of Angel Investors and VCs. Not anymore. Almost anyone can speculate on the future of their favorite companies by buying and selling their company coin.”

Backed aims to provide a decentralized platform where anyone can speculate on the future of private companies with as little as $50. By doing so, the platform hopes to offer a novel approach to investments, allowing users to find returns even during difficult times in both traditional and crypto markets.

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Currently, on the Backed platform, users can buy the coins of companies such as TikTok, Twitch, Discord, SpaceX, and more. Note, in the last thirty days some of these companies have gone up 10 times despite the bear market.

At the heart of the project is the Backed token ($BKD) that is used to buy CompanyCoins. Note during the token launch, the price of $BKD was pegged to BTC.  There are a total of 6 million BKD tokens. The Backed team plan to distribute up to 5 million BKD token during the initial token sale phases. This however will be done depending on the demand in the market. The remaining 1 million tokens will be used by the funding team for various purposes including marketing.

In the coming days, the team belies the price of BKD will double compared to the price of BTC. Eventually, this price is expected to rise 500 times. Note that BKD is currently selling for a $0.40 token.

Betts added:

“The top 20 stock exchanges in the world have a combined market cap of about $100 trillion. If Backed can represent the majority of the private companies in the world, I don’t see why Backed can’t be a $10 trillion dollar asset class.”