Despite lagging prices with some of the world’s most popular cryptocurrencies, fundraising through initial coin offerings continues to remain strong. According to documents filed with the U.S. Securities and Exchange Commission, popular messaging app Telegram raised about $850 million dollars during the second round of their ICO. Their first round netted about the same amount of money, which pushes total fundraising amounts to at least $1.7 billion dollars. Telegram was reportedly seeking to raise at least $1.6 billion.
Average investment in Telegram’s ICO has been about $10 million dollars, but many big-name investors have declined to get involved due to the company’s reluctance to share a lot of detail about their proposed blockchain protocols and ICO structure.
A start-up from the Netherlands called Safeguard recently announced plans to launch an ICO to raise about $12 million dollars in capital for a new artificial intelligence system that will help predict dangerous workplace incidents. The company currently offers a platform for organizations to communicate on during a crisis, but is looking to use their new system to help promote exchanges of safety data between companies.
Seemingly following in the footsteps of Facebook and Twitter, email management platform Mailchimp recently said they would not let businesses and entities involved in cryptocurrencies or ICOs use their services. The company updated their Acceptable Use Policy with a clause targeting those in the virtual currency world.
Despite the crackdowns by some major social media and marketing companies,
optimism with the cryptocurrency and ICO market is still high thanks to the vast amount of legitimate offerings out there. While scams always seem to dominate headlines, many ICOs give investors the opportunity to contribute towards projects and ideas that will change the world.
We have been watching a few ICOs that seem to have some interesting ideas and are also coming out this week. All we are doing is just presenting online information from a variety of different resources. We are not financial advisors. Please talk with an experienced and professional financial advisor before spending money investing in an ICO or in cryptocurrency.
This week we’re going into depth on Decentralized News Network (DNN), Joint Ventures (Joint), and Iagon (IAG). We dug deep into each of these projects, and here’s what you need to know about the underlying value of each and why they might be worth investigating.
Decentralized News Network is looking to crack down on the inaccurate news by rewarding content creators who produce articles that are reviewed by fact-checkers before being published. The Joint Ventures team will reward people in the content industry to cut out the power of the middleman, and the team from Iagon is creating a platform that will harness unused computing space and resources to rival major cloud computing services.
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