Blockchain technology company Tierion has announced that Fenbushi Capital has made a commitment to participate in its upcoming token sale.

Fenbushi Capital, a Chinese VC fund dedicated to supporting companies building innovative blockchain use cases, previously invested in Tierion's $1 million seed round alongside leading venture capital firms Blockchain Capital and Digital Currency Group.

"Unlike most projects raising money through token sales, Tierion already has a live product that they've been improving for years," said Fenbushi General Partner Bo Shen. "We've been impressed with Tierion's team since our initial investment, and we're excited to continue supporting them through the Tierion token sale."

In its official release, Tierion said that it is one of the few companies to launch a token sale with a fully developed product, VC funding, and partnerships with companies beyond the blockchain industry. A number of multinational companies, including Microsoft and Philips, have used its products for data verification.

"We're transforming Tierion from a cloud application into a global distributed network," says Tierion CEO, Wayne Vaughan. "Our goal is to build a global proof engine that safeguards the world's data."

During the token sale, an ERC20 smart contract token ‘Tierion Network Token (TNT)’ will be sold, which are used as a payment mechanism for services on the network, and as an economic incentive to maintain the network's uptime and reliability. The token sale opens to the public on the 27th of July, with presale scheduled to start on the 22nd of July.

Tierion said that the sale proceeds will be used to build out a global network and cover the rising costs of linking data to the blockchain. The funds will also be used for the ongoing development of technology within the Tierion ecosystem.

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