Stream Coin, a Dubai-based live streaming project powered by blockchain, announced that it will be having an initial coin offering (ICO) starting this February 1.

Up to 1 billion Stream (STRM) will be sold during the ICO at a fixed price of $0.9 each. To ensure compliance with government regulations of different countries on cryptocurrencies, each investor must pass Stream’s Know-Your-Customer (KYC) requirement before they are allowed to participate.

According to Stream, this ICO will be one of the first to have a referral program for investors. Those who purchase STRM worth $50 or more can receive a referral link, which they can use to invite people to invest in the ICO. For each time the referral code is used to purchase STRM tokens, the referrer will receive an additional 100% STRM as a reward.

There is no minimum amount of STRM that an investor can purchase, although there will be a maximum investment of $9,999 per person, which is equivalent to 11,110 STRM, as a control measure.

The ICO announcement came after the company had a successful burn of 1.64 billion STRM on January 5. At the moment, Stream has a total supply of 5.52 billion only, of which 1 billion will be available for purchase during the public sale.

Any amount of STRM that was not purchased out of the 1 billion tokens during the ICO will be burned. Subsequently, Stream will burn an equal number of tokens from the company’s allocation.

ICO participants will be able to purchase STRM using different cryptocurrencies, namely BTC, ETH, USDT, BNB, BUSD, ABBC, CRO, OKB, FTT, KCS, GT, MEX, and ZB.

After the ICO, STRM will be listed on more than 100 exchanges to promote awareness and adoption of its blockchain-based live streaming platform “MeiTalk”, which is being developed by the Steam Coin team. The company will also ensure that investors who purchased STRMwill enjoy satisfactory investment benefits especially once MeiTalk goes live.

Moreover, due to the expansion of the non-fungible tokens (NFTs) market in the crypto space, MeiTalk will also enable live streamers to convert their videos into NFTs at a click of a button, which can be sold for STRM in the Stream NFT marketplace.

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