Disclaimer: This is not financial advice, and I am not an advisor. Please always do your own research.
The launch of WOZX by Apple co-founder Steve Wozniak came as a surprise to most crypto investors. So, now we will try to have a closer look at WOZX and its potential.
2-year-old Efforce
As of November 2020, Bitcoin energy consumption is estimated at around 76.87 terawatt hours per year and emits nearly 22 megatons of carbon per year. Steve Wozniak aims to disrupt the $ 250 billion energy efficiency market with his crowdfunding company called Efforce, which gives holders a portion of the revenue from energy efficiency projects worldwide.
Although various media outlets wrote that Steve Wozniak launched his "second company" and "crowdfunding startup" Efforce in 2020, according to Crunchbasedotcom, the company itself seems 2 years older, launched in 2018 by Jacopo Visetti, currently stated as a project leader and co-founder. The company said they are waiting to publicize Wozniak's role as a co-founder until its technology is "at an industrial level." So, what was so special about Efforce that Steve Wozniak decided to give it a go?
Idea
According to the Efforce whitepaper, the platform solves 3 key issues in the energy efficiency market: the difficulty of placing Contributors (investors) and Savers in contact, the size of the investment required, and the type of return finance. Through Efforce, provider-funded energy savings are tokenized and used or sold to energy-intensive consumers, who may stop paying their bills.
We created Efforce to be the first decentralized platform that allows everyone to participate and benefit financially from energy efficient projects around the world, and create significant environmental change, Wozniak said.
The WOZX token
The EFFORCE Token $ WOZX is a utility token that serves as a project start-up certificate that saves energy and cooperation between Consumers and Savers with Efforce. For example, contributors wishing to participate in platform-saving energy projects may be required to lock out 1 token for every 1 USDT of contribution.
The total value of WOZX is 1,000,000,000, and new tokens cannot be created. According to the token allocation scheme, 45% is for private placement, 20% for Efforce Ltd, 20% - an incentive for mining, and 15% for ecosystems and consultants.
The token is already listed on HBTC and is expected to be listed on Bithumb Global next week.
Potential?
I will give you some facts to let you judge yourself:
1) Apple co-founder Steve Wozniak cannot engage in low-quality projects
2) according to the company, private investors have invested $ 18 million in a $ 80 million valuation,
3) In the early days of public trading, WOZX ranged from 22 cents (December 2) to over $ 1.50 (Dec 7)
4) The solid idea combined with the $ 250 billion energy potential market potential makes WOZX worth watching!