SAN JUAN, Puerto Rico, Feb. 22, 2018 (GLOBE NEWSWIRE/KOREA IT TIMES) -- Decentralized IT security marketplace PolySwarm (www.polyswarm.io) today announced the launch of its public token sale. PolySwarm recently closed its private presale for its Nectar (NCT) token, raising an initial $15 million in funding from backers including Science Blockchain and BlockTower Capital. Crowdsale contributors of the first $5 million raised will enjoy a 20 percent token price discount. Crowdsale discounts range from 20 percent to 5 percent, decreasing every $5 Million dollars raised. Polyswarm total funding target is $50 million.
Today’s antivirus and IT security market is dominated by single vendor offerings that often miss emerging threats. PolySwarm incentivizes a global community of information security experts to disrupt the $8.5 billion cyber threat intelligence industry, providing enterprises and consumers with unprecedented speed and accuracy in threat detection. By introducing a platform encouraging innovation and competition, the market will reward experts who are best able to protect users.
The PolySwarm market runs on Nectar, an ERC20-compatible utility token that makes it easy to submit and classify potential threats on the PolySwarm market. Nectar replaces traditional, outdated antivirus and threat-scanning subscription payments.
“Support from early backers demonstrates great interest in what we’re building at PolySwarm, and we’re excited to engage the information security and blockchain communities through our public token sale,” said Steve Bassi, CEO at PolySwarm.
PolySwarm’s founders built the company out of Narf Industries, LLC, an information security firm that recently completed a blockchain-based identity management project for the Department of Homeland Security, as well as cutting-edge information security projects for DARPA. PolySwarm’s advisory board includes former McAfee CIO Mark Tonnesen, alongside renowned information security experts Dan Guido, Chris Eagle, Dr. Sergey Bratus, and Carl Hoffman.
ABOUT POLYSWARM
PolySwarm is the first decentralized marketplace allowing security experts to build anti-malware engines that compete to protect consumers. PolySwarm incentivizes a global community of information security experts to disrupt the $8.5 billion cyber threat intelligence industry, providing enterprises and consumers with unprecedented speed and accuracy in threat detection. The PolySwarm market runs on Nectar (NCT), an ERC20-compatible utility token. For more information, please visit https://polyswarm.io.
MEDIA CONTACT: polyswarm@transform.pr
