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KR1 liquidates OmiseGo (OMG) and cashes in Nash Exchange (NEX) tokens

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KR1, a digital asset investment company supporting early-stage decentralized and open source blockchain projects, today announced that the firm has liquidated its remaining holdings in the OmiseGo (OMG) project.

Overall, the team reports that OMG has been one of KR1’s most successful token investments to date and has enabled KR1 to further support a number of other projects. The company has disposed of its remaining OMG tokens at an average price of US$2.054 per token for a total of US$205,851, having initially purchased each at a price of US$0.2738.

The company also reported today the disposal of 25,000 tokens of its holding in the Nash Exchange (NEX) project. The tokens were bought for US$1.00 per NEX token and were sold at an average price of US$2.033 each. KR1 still retains 25,000 NEX tokens and is expecting a successful exchange launch for the project towards the end of the year.

In line with its strategy to support early-stage projects, KR1 will repurpose the funds gained by investing in new projects.

George McDonaugh, CEO of KR1

“As ever, the blockchain space continues to grow at an extraordinary rate and we remain at the forefront of identifying and investing in transformational blockchain technologies, many of which are starting to move into production. Even throughout the recent year long, bear market, innovation has continued at a pace. Our investment in both these projects have been successful for us, generating significant returns and will allow us to capitalize on the current positive shift in market sentiment. In line with KR1’s strategy to stay nimble and back the very best projects in the space, we aim to time our exits when the time is right in order to achieve considerable returns on our investments.”

George McDonaugh, Chief Executive Officer of KR1

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