Astronaut Capital, a leading cryptocurrency fund, has become an early-stage investor in the private sale token event for Loki Network (LOK).
Loki Network (Loki) is an open source project developed from the Monero source code to create a completely decentralized private network built upon a foundation of service nodes. SNApps can be created on top of these nodes to provide privacy and security. The first SNApp, a private messaging service called Loki Messenger will be created by the Loki team.
The global messaging market is projected to reach 2.1b users with the number of mobile messaging app users growing from 24.5% in 2017 to 29.1% in 2019. Astronaut Capital analysts estimate the market value of this industry to reach $60bn by 2020.
“Monero has always been a favorite of ours as the world is getting more and more concerned about privacy. You only have to look at the recent debacle with Facebook to get an idea of how much potential this segment has. The fact that we can now have apps that are utilizing the same traits as Monero is a huge step in the right direction” says Matthew Dibb, the CEO of Astronaut Capital.
Privacy tokens have seen tremendous growth in 2017 with a market cap increase from $283m to $16,381m among the top 4 privacy coins (XMR, ZEC, DASH, XVG).
“We have a lot of faith in the team to execute on this and their experience in technical development, particularly as major contributors to Monero, is testament to this fact.” says Matt.
Loki Network raised slightly less than $10 million in a private-only sale.
The Astronaut Investment Committee (IC) approved the investment citing “Having anonymity, security and scalability as its differentiating factors, we believe there is enormous potential for this project as compared to its competitors.”
While they are bullish on the project overall, they do acknowledge that regulatory changes could create challenges in the private blockchain market.
To accompany the contribution, Astronaut Capital released a full research report explaining its rationale for the investment. The research has been prepared through Picolo Research, an independent analysis firm focused on emerging blockchain companies.
A full overview of the venture and Astronauts participation can be found here.
For more information on Astronaut, visit their website at www.astronaut.capital
About Astronaut Capital
Astronaut Capital is a research-integrated asset manager focused on early-stage cryptocurrency exposure and initial coin offerings (ICOs). The firm is backed by a leading institutional research house, Picolo Research, and utilizes the expertise of certified financial analysts for investment due diligence. Astronaut is a tradable token under the code ASTRO. More information can be found on the official website www.astronaut.capital.