Assure Services spends $12,500+ purchasing 700 asset names on the Ravencoin blockchain

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Less than 10 days after the Ravencoin mainnet launch, over 10,000 assets have already been created on its blockchain, a Bitcoin fork with some adjustments to support the creation of assets.

While a large fraction of these asset registrations was certainly made by enthusiastic community members, it’s now coming becoming clear that some major players are responsible for the asset creation frenzy as well.

Assure Services, a US-based fund administration firm, has just announced that in preparation for the launch of its Blockchain-based funds, it purchased 700+ Ravencoin asset names.  

Since the cost of issuing an asset on Ravencoin is permanently burning 500 RVN, Assure Services alone has reduced the circulating supply of Ravencoin by over 350,000 RVN.

The RVN destroyed by Assure Services is valued at approximately $12,500 at the time of writing.

The firm states that it will use these asset names in the coming months to launch tokenized funds and additional blockchain-based services.

We reached out to Assure Services firm for comment and will publish a follow-up article with more details if the management accepts our interview request.

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