Ayre Ventures completes follow-on investment in Mijem Inc.
By Press Release | 13 January 2022
This article was originally published on CoinGeek on January 13, 2022.
First Marketplace with ‘Get Bitcoin SV-Back’ Loyalty System – Users Benefit from New Crypto Wallet Functionality and BSV Loyalty Program
TORONTO, Canada – Mijem Inc., the Canada-based social marketplace and technology company, closed a follow-on investment in its RTO concurrent financing with noted technology entrepreneur Calvin Ayre, founder of venture capital firm Ayre Ventures. Mijem Inc., having recently amalgamated into Mijem Newcomm Tech Inc., is currently trading on the CSE under ticker MJEM.
Mijem Newcomm Tech Inc. is the developer of the popular Mijem social marketplace, an intuitive online platform and application ecosystem that connects students with their peers to efficiently buy, sell and trade goods and services. Mijem social marketplaces center around Gen Z communities, including post-secondary institutions, in the United States and Canada. To date, Mijem has established relationships with more than 70 university and college communities, including those at the University of Texas, the University of Toronto, the University of British Columbia, the University of Michigan and the University of Miami.
Commenting on the investment, Ayre Ventures founder Calvin Ayre, said, “Mijem’s integrated Bitcoin SV (BSV) loyalty system is a key development for its users because Bitcoin SV is an everyday digital currency with important advantages with regard to scalability, speed, eco-friendly footprint, and low costs. We see a great opportunity to continue working with their team to further develop the Mijem offering with Bitcoin SV and play a part in their ongoing success story.”
Mijem founder Phuong Dinh said, “Bitcoin SV is what the original Bitcoin white paper envisioned, namely, a fast, inexpensive, peer-to-peer electronic cash system – and all these characteristics are important for Mijem’s Gen Z target market. Mijem is connecting communities, building trust, and providing features like links to digital asset wallets and BSV rewards that Gen Z demands. On behalf of Mijem, I’d like to thank Ayre Ventures for their investment and continued support.”
About Bitcoin SV
The Bitcoin SV network is an enterprise-grade public blockchain that benefits from its ability to scale unbounded, offering greater data capacity and functionality, in addition to super low transaction fees (median transaction fees on the BSV network for payments have ranged from 1/25 to 1/100 of a U.S. cent), enabling it to serve as a powerful global data ledger for business, as well as a fast and efficient peer-to-peer electronic cash system.
About Mijem Inc.
Mijem is a Canadian-based social media and technology company that provides innovative solutions to create a vibrant social marketplace for Generation Z to connect and to efficiently buy, sell and trade goods and services. Mijem’s patent-pending flagship technology currently permits thousands of university and college students across the United States and Canada to both connect online and engage in consumer-to-consumer commerce.
About Ayre Ventures
Ayre Ventures, founded by celebrated entrepreneur and philanthropist Calvin Ayre, provides capital to scalable, high-growth businesses within the BSV blockchain ecosystem. Ayre Ventures targets investment in innovative ideas and ambitious projects that are ‘positively disruptive’, supporting their expansion with the Group’s extensive network and industry partners.