Binance-Backed Cere Network Prepares Private Sale With a Little Help From Matic

Binance-Backed Cere Network Prepares Private Sale With a Little Help From Matic

In what has been described as “an industry first,” Cere Network has announced its intention to sell tokens exclusively to Matic token-holders during a private sale round.

Cere Network, a product of the Binance Labs incubator, is a customer relationship management (CRM) project harnessing blockchain to allow for greater transparency and utility in the CRM market. In its forthcoming private sale, $100,000 of tokens will be offered directly to Matic token-holders.

Cere has already gained significant backing from a number of VCs including Fenbushi Capital, Neo Global Capital, Arrington XRP Capital, and Kenetic Capital. With the aid of Binance Labs, an early investor in the project, the company has raised seed funding totalling $3.5 million.

Deep Integration With the Sidechain Specialists

Cere intends to fully integrate into Matic Network, whose sidechain solution uses an adapted version of Plasma with PoS based sidechains to facilitate vast improvements for Ethereum in terms of speed, utility and scalability. Matic will also assist Cere in the creation of the first highly scalable CRM built on blockchain technology. The Cere team, which includes big hitters from the likes of Amazon, Twitch, and Bebo, believes that the extra speed and scalability Matic provides will give Cere the necessary power and functionality to grab a slice of the highly competitive CRM market. The lucrative industry is valued at $48 billion as of 2018. 

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Unveiling the partnership, Jaynti Kanani, CEO and Co-Founder of Matic Network, said: “Cere is an exciting partnership for Matic, and another example of the projects choosing Matic to bring their vision to fruition, while adding greater utility and demand for the Matic token. Cere Network’s vision of the role Web3 and crypto networks will play in shaping the future of online business is closely aligned with our own.”

Matic Network Keeps on Trucking

In terms of development, as well as in market capitalization, Matic has had a good year since launching on Binance. In addition to becoming one of the exchange’s top-performing IEOs, a string of partnerships, integrations, and exchange listings has followed. A number of dApps have migrated to or elected to build on Matic Network, including crypto news aggregator CryptoControl and gaming dApp Pocketful of Quarters.

There have also been integrations with MakerDao and USDC, bringing stablecoins to sidechains, and opening the door to an array of financial products built on Matic Network. Competition for smart contract-equipped high throughput networks has intensified significantly, with scores of projects now attempting to solve the problems that have left Ethereum floundering.

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