PhotoChromic, a biometrically managed self-sovereign identity protocol built on the utility of Non Fungible Tokens, has announced that it will launch its IDO on the Cardano-based launchpad, CardStarter. The IDO’s registration will open on 8th November, Monday at 3 PM UTC, and the IDO will be held on 15th November, Monday at 3 PM UTC.
In the world of compromised identity and data breaches, PhotoChromic is bringing a blockchain-powered implementation of self-sovereign identity, where the control of user data remains with the users. The project generates biometrically managed self-sovereign identity on the blockchain and tokenizes the identities as NFTs which are programmable, verifiable, universally addressable and digitally secured.
PhotoChromic has announced that CardStarter will be hosting the Initial Decentralized Exchange offering for $PHCR tokens on 15th November 2021. An IDO is a new type of decentralized and permissionless crowdfunding process that will help PhotoChromic to gather initial liquidity for the $PHCR token and grow awareness in the crypto community.
$PHCR is PhotoChromic’s Identity Bonding Token that has several use cases within the ecosystem with a total supply of 15 billion, out of which 21% will be sold in Private Sale and IDO. It is an ERC-20 token that runs on the native Ethereum blockchain to serve three purposes: governance, bonding identities and staking.
However, the most versatile use case of the PHCR token is its ability to bind a user’s identity to assets such as art, collectibles, and documents, which have a global use. The identity NFT token holders have complete control over the protocol and bond their identities to digital and physical assets. PhotoChromic will have multi-chain functionality and will initially run on Ethereum before expanding to Cardano, Solana and MATIC.
As an end goal, PhotoChromic aims to empower various sectors that require optimized identity verification by helping them adopt Web3 for efficient delivery of services and goods. With the help of this IDO, PhotoChromic and CardStarter will foster the mass adoption of cryptocurrencies and blockchain technology.
CardStarter is the first launchpad, incubator and insurance program built on the Cardano network. CardStarter offers the CARDS platform, a dynamic launchpad that connects upcoming projects with support and partners. Also, CardStarter has a dedicated Cards Accelerator Program team that helps every project individually groom the right connections for long-term success.
PhotoChromic believes that every individual should have complete control over their identity data. To that extent, PhotoChromic has designed a biometrically managed Self Sovereign Identity for utility on the blockchain. It tokenizes people’s identities using NFT that is programmable, verifiable, universal and digitally secured.
PhotoChromic is a blockchain protocol that enables valuable utility on the internet to bond a user’s identity with their digital and physical assets, valuable relationships, and digitally signed agreements.