Apple co-founder Steve Wozniak’s new cryptocurrency token is less than a week old, but its price is certainly headed in a promising direction.
The token, Efforce, which goes by the WOZX symbol, hit a high of $2.77 on exchange HBTC, where it exclusively launched on December 3. Yesterday, it lounged as low as $1.32. Its current price is $2.47.
Efforce is a blockchain-based project co-founded by “Woz” that allows people to invest in “energy efficiency projects by acquiring tokenized future savings,” according to its website.
It costs money to make buildings or processes more energy efficient. By purchasing tokens, WOZX buyers are essentially indirectly investing in such projects. Contributors are rewarded in the form of energy savings in the form of a token, which they can do with as they please.
The token is only available on Singapore-based HBTC—and even then paired with just the Tether stablecoin—so it's not available to US investors yet. The token is set to hit Bithumb Global this month.
Efforce boasted on Friday that WOZX had a $950 million market cap within minutes of its HBTC listing. CryptoGecko puts the market cap at closer to $45 million. The total number of WOZX is limited to 1 billion, and Efforce says no more will ever be minted.
Wozniak helped develop the Macintosh personal computer before leaving Apple in 1985.