Apple co-founder Steve Wozniak’s new token, Efforce (WOZX), has almost doubled in price today after an astonishing ride that saw the price go up about 26X in the past week.
WOZX will open for trading on the Korea-based Bithumb exchange on December 9, and is already up 2.490% since it was first listed on the HBTC exchange on December 3. It opened at 10 cents per token and is currently trading at $2.59.
The WOZX Ethereum blockchain token is a way to secure energy savings. The tokens have a total supply of one billion and were sold through a private funding round conducted earlier this year, receiving an initial valuation of $80 million.
It hit a market cap of $950 million in its first 13 minutes of trading, according to the eponymous company behind the token, Efforce.
This is Wozniak’s second blockchain venture since co-founding Apple in his parents’ garage in 1976. Calling itself “the first blockchain-based energy-efficient platform,” Efforce aims to drive energy consumption reductions in a way that is meaningful but doesn’t interfere with human behavior or routines today. this.
WOZX tokens will be used on the platform by contributors who wish to take part in energy-saving projects and as rewards based on the amount of energy the user has saved.
Wozniak was joined at Efforce by co-founders Jacopo Visetti and Jacopo Vanetti who served as Project Lead and CTO, respectively. The company was founded in 2022 and is based in Malta, a country widely considered to be friendly to blockchain-based companies.
In the Dec. 4 announcement, Visetti explained how Efforce will help democratize the energy efficiency market by connecting investors with energy-saving projects.
“Energy efficiency is the way to create a sustainable future, and it’s the way to help fight climate change, reduce carbon – and make money while you do it.”
In October 2018, Wozniak founded blockchain-based venture fund EQUI Global in a bid to disrupt the venture capital and funding industry.