For a variety of companies, from ticket vendors to energy consulting, digital tokens are increasingly becoming a popular way to raise funds. This is evident in the ballooning number of Initial Coin Offerings, or ICOs, open right now.
Aside from providing a more secure method of funding, having an ICO means appealing to a broader range of investors outside of the traditional, which might be helping with their popularity. There are 35 open ICOs open today alone, with many more scheduled to open in the coming weeks. Of the lot, here are four, all closing next week, that Bank Innovation is keeping an eye on:
SunContract – closes on Tuesday, July 25
Blockchain-utilizing energy trading platform SunContract will close its ICO on Tuesday, July 25. SunContract aims to create a platform using blockchain for buying and selling electricity. SunContract (SNC) has so far raised $1.7 million in ether, according to its website. It started its ICO on about a month ago on June 28, and is building its platform on Ethereum. It was founded in early 2016.
DENT Wireless – closes Wednesday, July 26
Global mobile data exchange platform DENT will close its ICO on Wednesday, July 26. DENT, which aims to create a marketplace for the buying and selling of mobile data via cryptocurrency, has already surpassed its minimum goal of 15,000 ETH and is currently at 19067.88 ETH or $4.3 million, according to Etherscan. Dent, which also uses Ethereum, opened its ICO on July 12. The company is based in Hong Kong, and was founded 2014.
Primalbase– closes Wednesday, July 26
Primalbase, which aims to establish itself as a community-based ecosystem for office renters, was expected to close its ICO on Wednesday, July 26, but sold out earlier than anticipated. With rental workspaces such as WeWork and Rocketspace becoming increasingly popular, the Amsterdam-based Primalbase is aiming to create a community in which users can rent, sell or share office space using cryptocurrencies such as Ethereum and Waves. Its ICO, which started a month ago on June 26, issued a small amount of 1,000 tokens, priced at 5 bitcoins per token, according to Merkel. 5,000 bitcoin x $2,500 per coin would mean more than $12 million raised.
DAO.casino – closes Wednesday, July 26
DAO.Casino is creating a decentralized casino system by removing human involvement from the equation. With over 4,000 transactions, DAO.Casino has already raised over $85.8 million, according to Etherscan. However, these funds are currently unreachable due to a security breach, according to the company’s site. Through DAO.casino, developers will not have to pay commissions, while gamers will be protected from rigged centralized online casinos, since each bet will be calculated through transparent channels as opposed to the ‘behind-closed curtains’ method that it is now.3 - Readers Like This Post