Istanbul, Turkey, Jan. 29, 2024 (GLOBE NEWSWIRE) — Nargilem – a well-established company with over 20 years of experience in the hookah industry – announced its integration into the crypto world by introducing the Huqqa World Token (HWT). The company leverages its booming, crypto-savvy community to revolutionize the market with a deflationary token that benefits from the thriving hookah industry and the brand’s strength.
HWT will be the first-ever token backed by actual soil and tobacco. Nargilem is a well-known brand boasting a solid presence in the hookah industry and a monthly production of over 20,000 kg of tobacco, which translates to over 100,000 tobacco cans sold worldwide. The company now seeks to democratize the tobacco industry via the unique HWT token and share the profitability with anyone willing to participate in this venture.
Soon, HWT will organize an Initial Coin Offering (ICO) to raise more funds for the project and help it launch with a rippling effect in the crypto space. HWT’s advanced smart contract provides an easy and transparent payment method harnessing the power of blockchain technology. But there are other benefits an ICO will bring, according to HWT representatives.
The ICO will also help HWT onboard participants from different regions and incentivize them to promote Huqqa World Token products via franchise shops. The tokens will provide liquidity since they will be available to trade on various exchanges following the ICO. Moreover, participants can liquidate their positions, such as holding shares in a publicly listed company.
HWT will be an ERC-20 deflationary token using a burning mechanism to reduce the token supply. The increased scarcity should boost the token’s value in the long run, bringing more benefits for token holders.
The Huqqa World Token is limited to a maximum supply of 10.000.000 HWT, and its distribution is as follows:
- 60% available for sale (divided into private sale and crowdsale)
- 20% goes to the development team
- 10% to partners
- 5% will be used for bounty airdrops
- 3% to advisors
- 2% to charity
Each buy or sell transaction will include a 2% fee for charity purposes.
Investors seeking to participate in the private sale must purchase tokens worth at least $10,000, with the HWT token listed at $2. The crowdsale will commence once the private sale ends, listing HWT at $2.20 per token. The tokens will be distributed immediately after the ICO. Lastly, all investors must go through KYC (Know Your Customer) verification to withdraw their tokens.
About Nargilem and the Huqqa World Token
Nargilem spent the last two decades developing into an industry-leading firm with an extensive supply chain spanning over 12,000 hookah bars, 3500 hookah stores, and contracts with over 100 wholesalers. Moreover, the company aims to expand its operation in South America, where it will produce its own tobacco on a large plantation covering 1,000 hectares.
HWT is a professional crypto team comprising 10 members with versatile expertise across various industries and collaborating from multiple countries. Its vision is to combine Nargilem’s advanced know-how of the hookah industry with the limitless benefits of blockchain technology. This unique combination will fuel the development of the HWT token and its surrounding ecosystem.
The HWT founder commented on the project’s ambitions:
“Our journey from a traditional industry giant to a crypto trailblazer represents our commitment to evolution. The fusion of our 20-year legacy with cutting-edge blockchain technology reflects our belief in the future of cryptocurrencies.”
Those interested in learning more about Huqqa World Token can join its Telegram channel or visit these links: Website | X (Twitter) | Medium | Instagram
Resul K. info at hwt24.io
Source: Nargilem
