ICO, Crypto Sales Spike within Hours

Crypto token and ICO sales raised tens of millions of US dollars within hours

Crypto token and Initial Coin Offerings (ICOs) sales have been skyrocketing. This was evidence in the big success of various initiatives that raised tens of millions of US dollars at an ultra-fast speed. There’s been various successes in the ICO sector in recent times.

The Venture Capital (VC) company named Blockchain Capital ha the goal of democratizing the VC market. The company broke records by raising $10 million within 6 hours of its ICO. Blockchain Capital’s BCAP tokens can be tradable on top crypto-currency exchanges. These smart contract tokens are a symbol of non-voting economic interest in the company’s Digital Liquid Venture Fund.

Blockchain Capital has made a new press release that announced it has successfully completed its ICO. It shred that the company’s initial investment will be in the company Parity Technologies Ltd. The company was launched by Parity Ethereum software.

Brock Pierce is the Managing Partner at Blockchain Capital. He recently stated that the company is thrilled to begin investing in the top teams that are implementing game-changing ideas. It’s thus pleased that it’s making an investment in Parity.

Parity Technologies Ltd was previously known as Ethcore. Gavin Wood is the company’s founder and also the developer of the Ethereum specs. He has recently shared the concept of a multi-chain framework named Polkadot. It’s a third-gen public/permissionless blockchain tech that’s built to be scalable/extensible. This helps to solve 2 of the biggest problems that are preventing blockchain tech from becoming hot.

Wood said that blockchain tech’s next evolution is taking place. His company wanted to team up with a funding partner that fully understands his company’s space and the challenges it’s finding solutions for. He stated that Blockchain Capital has the expertise/understanding of the actual ecosystem that will allow Parity/Polkadot to get to the next level of innovation.

Brad Stephens is the Co-founder of Blockchain Capital. He stated that his company is excited to be part of the new platform. He pointed out the ability of Polkadot to integrate public/private chains into one consensus network. This creates the ability to build new transactive layers, link several blockchains, and drive inter-operability.

Pierce stated that his company wanted to make access more democratic and also offer improve liquidity to the class of venture capital assets. He believes that the company has succeeded with this goal. Pierce noted that the company saw big demand from institutions. It was carried back in order to free up space for the crypto-community. Pierce noted that the ability to raise $10 million in under one day shows the potential of the emerging market of digital capital.

Another recent event worth noting was the I Executive (iExec) project. It’s a next-gen distributing cloud computing platform that’s Ethereum-based. It has a plan to launch a crowdsale in order to fund the distributed super-computing system that’s on-demand.

It will use the Ethereum blockchain in order to manage an international P2P market. This will give everyone the ability to rent computing applications/resources. This is a sustainable ecosystem used for open-grid computing. It includes paid providers and paying clients.

The RLC tokens are the native currency used for the iExec computing network. Its crowdsale began on April 19 and ended on the same day. That’s after it raised the target funding equaling 10,000 bitcoins. Not only that but it achieve that goal in under 3 hours. That broke Blockchain Capital’s previous record. The company raised $12 million in under 3 hours. It’s important to note that there was a lot of prep work before the last 3 hour rush.

Gilles Fedak is an iExec co-founder. He explains that the company raised $12 million on April 19. This made the ICO the fifth biggest one in history. The company is proud of the trust that the crypto-community has shown it and it knows the challenges that it will face in the future. He stated that the biggest adventure for the next decade will be making the Internet de-centralized again. He claims his company has taken the first step to achieve that goal.

It’s important to keep in mind the banking app Humaniq that is Ethereum based. It offers solutions for financial inclusion for unbanked people. The company recently launched its public crowdsale. In the first day it was able to raise over $2 million. Meanwhile, the Humaniq crowdsale that has raised nearly $4 million will end soon.

It’s important to put all of this in perspective. The ICO funding model is quickly becoming a real alternative to standard VC models. Blockchain software businesses have had big success in funding themselves through sales of crypto tokens. However, the model could be used in other sectors as well. This will require some tweaks that are mostly related to legal issues. However, what’s important to note is that the model can be expanded to another sectors and achieve similar access.

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Cryptocurrency
One Comment
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