Micky Watkins

World Mobile Token Launches on Cardano

 World Mobile Token Ltd, which is enabling a new global mobile network built on the sharing economy, announces the launch of its utility-based World Mobile Token (WMT) on the Cardano blockchain. The company aims to raise $40 million within the first five weeks of the public sale on top of the $5 million it has raised privately. 

Participants are able to reserve WMT and enter the queue to buy on Sunday, July 4 at 11 a.m. UTC. The sale will officially open on Monday, July 5 at 11 a.m. users will receive an email when it’s their turn, and will have 24 hours to complete their purchase. The token can be purchased with ADA, BNB (BEP2), BTC, DAI (ERC20), or ETH. Week Zero will be limited to 25 percent of the total public sale tokens.

Token sale timeline and number of tokens available per person, per purchase:

  • June 15, 20:00 UTC: Open vault creation & KYC
  • July 4, 11 a.m. UTC: Reserve WMT and enter queue
  • July 5, 11 a.m. UTC: Sale opens! Week 0, $2K 
  • July 12, 11 a.m. UTC: Week 1, $100K
  • July 19, 11 a.m. UTC: Week 2, $250K
  • July 26, 11 a.m. UTC: Week 3, $500K
  • Aug. 2, 11 a.m. UTC: Week 4, $1M
  • Aug. 9, 11 a.m. UTC: Week 5, $2M
  • Aug. 16, 11 a.m. UTC: Sale closes

Globally 1.7 billion adults remain unbanked, according to the World Bank. Despite many of the technological advancements many of us take for granted, most traditional banks require a manual onboarding process and rely on credit bureaus to verify client identity. These manual, in-person procedures deny many demographics from basic services, such as the ability to open an account, apply for a loan and mortgage, or obtain access to other financial opportunities. 

The World Mobile Network aims to bring sustainable connectivity to communities, in Africa and beyond, through the WMT sharing economy. The company sells affordable network nodes to local business owners and implements blockchain-based digital IDs, in turn empowering the African continent with greater economic freedom, digital inclusion, blockchain adoption, and connection to the Internet.

The World Mobile Network already operates in East Africa. Starting with Tanzania and Kenya, the company aims to bring sustainable connectivity to communities through the sharing economy. WMT will power the World Mobile Network ecosystem, allowing World Mobile Network users access to digital banking, healthcare, digital identification, and educational institutions. 

“Our vision is to connect as many people as possible,” says RJ Katunda, CXO Africa at World Mobile Token LTD. “Everyone should have access to the Internet. It’s a fundamental human right. The right to access. Connectivity is a primary asset and it can be realised in a very short period of time.”