Phunware Inc (NASDAQ:PHUN) has launched its own cryptocurrency: the Phun utility token.
The PhunCoin is a utility token that allows consumers to “monetize their digital activity as they engage in profitable behavior with brands," according to the company.
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Users can “monetize their digital identity” with the company, and Phunware said it offers token holders a PhunCoin dividend.
“PhunCoin empowers consumers and seeks to ensure that they are properly compensated for their personal data and information, while Phun allows brands to unlock many of the features and capabilities of Phunware's cloud platform for mobile to better engage consumers,” CEO Alan Knitowski said in a statement.
Phunware shares were up 19.66% at $4.20 at the time of publication Thursday.
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Photo courtesy of Phunware.