Advanced Blockchain AG: Portfolio company peaq with successful token launch
Berlin, November 12, 2024 - Advanced Blockchain AG (‘AB’, Scale Frankfurt, Primary Market Düsseldorf, XETRA: ISIN DE000A0M93V6), a leading incubator and investor in the blockchain industry, announces the successful token launch of peaq, its first incubation and a leading platform in the Decentralized Physical Infrastructure Networks (DePIN) space. Advanced Blockchain received peaq tokens for its incubation services, representing 2.1% of the total token supply.
The launch marks an important milestone in peaq's development and underlines its vision to revolutionize a decentralized, community-managed infrastructure for future-oriented industries such as mobility, energy and the Internet of Things (IoT). Since its foundation in 2017, peaq has raised a total of USD 44.9 million in five financing rounds and established itself as a key player in the DePIN sector. In March 2024, peaq also raised a further USD 15 million in a pre-launch round led by Generative Ventures and Borderless Capital.
Key partnerships with companies such as Bosch, Continental and Deutsche Telekom support peaq's development and pave the way to transform areas such as mobility, energy and IoT through collaboratively managed, decentralized infrastructures. The token launch brings peaq a big step closer to the goal of realizing a machine-driven economy of the future.
"We congratulate the entire peaq team on this significant milestone," says Hatem Elsayed, COO of Advanced Blockchain AG. "This successful launch confirms peaq's innovative strength and opens up enormous potential for blockchain technologies in almost all sectors of the economy. The team is well positioned to set new standards for decentralized infrastructures and actively shape the future of the machine economy."
About Advanced Blockchain AG:
Advanced Blockchain AG (Scale Frankfurt, Primary Market Düsseldorf, XETRA: ISIN DE000A0M93V6) is a venture builder and investor in the blockchain industry with an extensive network of analysts, developers, programmers, economists, and mathematicians. Advanced Blockchain AG is dedicated to developing the future of Web 3.0 and innovating in different ecosystems and markets of the industry.
For more information about Advanced Blockchain AG, its various projects, and investments, please visit https://www.advancedblockchain.com/.
Contact:
ir@advancedblockchain.com
