MIOTA gained more than 12% in a single day after the announcement of the partnership with Nova Incubator, helped also by BTC surpassing the $3,800 USD mark, dragging up the whole cryptocurrency market.
Today, 18th of February, IOTA announced the partnership with Nova Incubator through what is called “IOTA Cofoundery”, which aims to develop startups utilising IOTA Distributed Ledger Technology.
This collaboration between the two platforms will provide support for tech entrepreneurs with startup ideas, or early-stage startups, that could utilise The Tangle, which is IOTA’s distributed ledger technology.
Below you can see the features provided by IOTA’s Cofoundery startup programme:
Let’s break down Nova’s achievements in order to know more about the potential of this partnership.
As stated by Nova, the platform has co-founded over 80 technology startups to date, and more than half of those are still active after over three years.
On their website, you can see some of their best successes like Picturepath, a digital visual timeline to help children with Autism progress through their day, sharing a child’s daily routine between parents, pupils and their teachers.
Nova has some big partnerships like Amazon, Google and UK’s Alder Hey Children’s Hospital, which is one of the biggest children’s hospitals in Europe, caring for more than 275.000 children, young people and their families.
Nova has also huge personalities as principal investors, like Sir Terence Patrick “Terry” Leahy, previously the CEO of Tesco, the largest British retailer and the third-largest retailer in the world measured by revenues.
Let’s talk about MIOTA’s price increase and possible resistances it could encounter on its way upwards.
As we can see in the image above (1D Candlestick), the first resistance we can encounter would be around $0.32 USD. If the price brakes that resistance level, the second resistance would be around $0.39 USD.
In the secon image, below, we want to show you also the breakthrough MIOTA had today in regards of the bearish trendline:
Of course, this looks a good sign for MIOTA’s price, especially with the new partnership sanctioned today.
IOTA is not the only one following the fund & incubator path, we already had Tron with its Tron Arcade, a $100 Million Gaming Fund (November 2018) and Binance with its Incubation Program (December 2018).
In our opinion, this methodology will bring many benefits like a wider adoption and more awareness towards the projects that adopt it; as Ethereum had a massive outreach with the huge amount of ICOs that were built on top of its blockchain, same can happen to the platforms cited above.
What do you think about IOTA’s Partnership with Nova Incubator? Let us know below in the comment section and remember that this is not financial advice but our personal opinion about the projects and their development.
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