EtherCamp has announced a crowdsale of its new token, Hacker Gold (HKG), set to begin Oct. 20. The event will run through the course of the company’s second annual hackathon, kicking off in November. Hacker Gold will be made available for sale for nine weeks – four weeks before the hackathon begins and will end after the five-week event is complete. The crowdsale will be safe-capped at 4 million ether, however the company has stated that this is not a funding goal or objective.
Roman Mandeleil, lead developer at EtherCamp, said that funds raised during the HKG crowdsale will go towards further development of the Virtual Accelerator platform, which is currently in its second version and preparing to move into its third iteration. EtherCamp’s overarching objective is to create an innovation environment specifically geared towards start-ups by utilising blockchain technology.