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KR1 PLC

KR1 checks out of Golem and Qtum with healthy profit

Both projects had reached very mature and self-sufficient stages, which fulfils KR1’s key business model

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KR1 has exited both projects completely

Blockchain and cryptocurrency investor KR1 Plc (NEX:KR1) has sold out of two of its investments at healthy prices.

The last of KR1’s holding in Golem (GNT) was sold for 22c per token, raising US$134,000. KR1’s holding of Qtum tokens, meanwhile, was sold at US$6.24 each, generating US$126,000.

READ: KR1 confident on future prospects despite Bitcoin downturn

That is more than 20 times the cost of its original investment in Qtum tokens, while the GNT tokens were sold for about seventeen times their purchase price.

Both projects had reached very mature and self-sufficient stages, which fulfils KR1’s key business model to provide capital and support to early-stage projects, said the statement.

George McDonaugh, KR1’s chief executive, added it was the first time that KR1 has exited from projects in their entirety.

Both projects employ large teams, have thriving communities, and early versions of their protocols are deployed and working well, but competition from TrueBit, Dfinity or other platforms is increasing, he said.

“It has been an incredibly exciting and hugely successful journey that KR1 shared with the Golem and Qtum projects over the last two years.”

Quick facts: KR1 PLC

Price: £0.07

Market: NEX
Market Cap: £0.00
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