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Infrastructure company Chain announced the acquisition of the Measurable Data Token (MDT) project and ecosystem products for $100 million. As a result of the transaction, MDT tokens are
Infrastructure company Chain announced the acquisition of the Measurable Data Token (MDT) project and ecosystem products for $100 million. As a result of the transaction, MDT tokens are converted into local assets of the organization’s network – XCN.
The chain is excited to announce its acquisition @MeasurableData $MDT Platform in a deal over $100 million!
Learn about the purchase below ⬇️ https://t.co/sDjty0FMBO
— Chain (@Chain) 23 July 2022
Founded in 2014, Chain develops cloud services to build blockchain-based decentralized applications.
As part of the deal, the company received a number of assets, including MDT tokens, the RewardMe app, and the MeFi oracle network focused on the financial market.
“With this acquisition, MDT, which will be burned and replaced with XCN, will end. The deal is beneficial for MDT holders. They are expected to receive around $0.08 per token,” he said.
Heatem Huang, CEO of Measurable Data Token, will join Chain as Chief Product Officer. Developers of the project’s ecosystem products will also move into the company.
According to CoinGecko, the XCN token is up 5.1% in the last 24 hours. At the time of writing, the asset is trading around $0.09. The price of MDT rose 56% to $0.051.
Recall that in the second quarter of 2022, most of the M&A transactions were in projects in the NFT and GameFi domains.
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I’m Sandra Torres, a passionate journalist and content creator. My specialty lies in covering the latest gadgets, trends and tech news for Div Bracket. With over 5 years of experience as a professional writer, I have built up an impressive portfolio of published works that showcase my expertise in this field.
