NPXS, Partnership, Product

$17M USD private placement is concluded for the NEM XPOS

nem xpos

Dear Pundians,

We have recently announced a commitment to utilize NEM blockchain technology to produce 20,000 of the world’s first NEM-based Point-of-Sales terminals, called NEM XPOS.

To fund this project, we have concluded a private placement totaling $17 million (USD) on April 5th 2018. The fund will be used for technical integration and the production of at least 20,000 NEM XPOS over a three year period. Part of the funds will be used for general XPOS R&D which will also benefit the development of the NEM XPOS. R&D will include side chain implementation, XPOS management systems and other refinements of the system.

What does it mean for NPXSXEM holders?

  • The NEM XPOS will be priced extremely competitive, possibly for free, using the funding.
  • NPXSXEM holders will be able to benefit from the increased utility of NPXSXEM as a token in all transactions, including the redistribution of NPXSXEM.
  • We anticipate NPXSXEM tokens will be listed in May in the exchanges.

What does it mean for NPXS holders?

  • Among all proceeds, such as gas, being used in NEMXPOS transactions, 10% of the the usage will be NPXS. For instance, if $10 (USD) worth of tokens is used, $1 (USD) will consume NPXS.
  • The XPOS will continue to be our main focus: The NEM XPOS is a special project. We will only partner with another blockchain if it ultimately benefits both the development of the XPOS and NPXS token holders.