Ireland’s First ICO, Mingo, Raises €650,000 in First Hour of Pre-sale

Mingo has raised more than half a million euros (~$768,000) in the first hour of its pre-sale on September 25, with investors quick to act to obtain tokens from Ireland’s first, upcoming initial coin offering.

While regulators in many countries across the world have cracked down on initial coin offerings (ICOs), Mingo‘s pre-sale exceeded expectations as investors rushed to buy this new token with massive potential. Ireland is known for its supportive regulations, low corporate taxes and English-speaking population. As a result, Ireland is a hub for many tech companies such as Google and Facebook, serving as their launchpad into Europe. The country is also fostering a supportive environment for startups and ICOs, compared to the political and economic uncertainty currently experienced by its neighbor with ‘Brexit.’

The business-friendly environment is conducive to progress in the fintech and blockchain sectors in Ireland and Mingo is clearly demonstrating that. Initial coin offerings will be welcomed and encouraged to boost innovation, as the country seeks to retain its competitive advantage. For instance, Enterprise Ireland, a government initiative promoting employment and innovation, has supported Mingo since 2012. 

Regarding the project, Mark Atterbury of Regional Development of Enterprise Ireland stated:

“We see Mingo will fulfill a market need that is currently being underserved and undervalued. Our expectations with fund winners such as [Mingo] are demanding; to see the company grow rapidly through export revenue and job creation is the ultimate goal, 15 of 20 and this feasibility fund helps support the business achieve an investment-ready offering. We look forward to supporting [Mingo] on their journey to success.”

The first step into the new world of venture capital and crowdfunding will be taken during the first quarter of 2018, when Mingo will hold its ICO. Mingocoin already has a working product in the form of a multi-platform messaging app with over 50,000 users. Three core platforms are as follows; the MingoMessenger, MingoWallet and MingoCoin.

The MingoMessenger is an messaging app but also serves as a solution for businesses that want to manage customer relations. The Mingo team are certain that messaging apps will drive mass adoption of cryptocurrency; their app is already live and acquiring users, helping them to drive toward this goal. Another benefit of the MingoMessenger is that you can merge existing conversations across multiple platforms into a single view.

The MingoWallet will be an in-built, multi-currency solution to send and receive cryptocurrency. The InterLedger protocol will provide cross-currency tranfers while the Lightning Network and Plasma will open up near-instant transactions with lower fees.

MingoCoin (MGC) will be based on Ethereum, and like other cryptocurrencies, the number of users and transactions will determine its value. As the MingoMessenger and MingoWallet become more popular and grow their existing user base, the demand and use of MingoCoin should also increase proportionally. If we use Blockchain.info as a proxy for the the current active user count of cryptocurrency, it stands around 16.8 million. Mingo’s strategic partnership with Xunison alone is projected to increase the global cryptocurrency user count by approximately 10 percent within the first year.

As the first cryptocurrency with an in-built tutor as part of a multi-layered platform to drive cryptocurrency adoption, Mingo has attracted a lot of attention from investors in its pre-sale. With a messenger, wallet and ERC20 token, Mingo is strategically positioned to become a cryptocurrency gateway where non-users become users.

The Mingo Token Pre-sale is ongoing and the sooner investors act, the greater their discount. Don’t miss out on this opportunity to push the cryptocurrency revolution to the tipping point, made available to everyone regardless of income; there are no minimum investments. You can participate in the Mingo Token pre-sale here.