DGAP-News: Advanced Blockchain AG's portfolio company is launching it's peaq token

Advanced Blockchain AG's (Frankfurt, Primary Market Düsseldorf, XETRA: ISIN DE000A0M93V6) spun-out portfolio company peaq Technology GmbH announced plans to launch their native PEAQ token (https://www.peaq.network/) in early 2022. A private token sale, supported by Advanced Blockchain, is currently ongoing.

The peaq-project was founded in 2017 and got subsequently spun out of Advanced Blockchain in 2020. The focus of peaq is the optimization of various processes in different industries with custom implementations of Distributed Ledger Technology (DLT). peaq's products have already found many use cases, for example in eMobility and other aspects of the automotive industry.

The peaq network will now be launched as its own platform and is going to be anchored to the  Polkadot network (https://polkadot.network/). Advanced Blockchain is excited to announce that the peaq testnet was successfully deployed and first token transactions are up and running. The peaq network aims to become a key piece of the infrastructure of the Economy of Things (Machine Economy). peaq's vision is to transform the Web2-based Internet of Things into the Web3-based Economy of Things. 

Advanced Blockchain together with peaq look forward to the long-awaited peaq platform and token launch, and the many functionalities and opportunities it will unlock for the portfolio company. The token generation event (TGE) is scheduled for early 2022.

Further information about Advanced Blockchain AG and peaq can be found at their respective websites, https://www.advancedblockchain.com/ and https://www.peaq.io/.