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After Raising Over 3933 BTC From Token Sale, ICOBox Gears Up For Token Exchange
Karan Kapoor | Sep 18, 2017 | 04:00
ICOBox, a one-stop shop for everything ICO related, successfully raised more than 3933 BTC through their very own token sale. The next stages essentially revolve around the opportunity for token exchange, where ICOS tokens can be swapped for tokens of some of the best projects at a discount of around 75%.
[Note: This is a sponsored article.]
Fundraising Game Changer
The world of fund-raising has been completely revolutionized by the advent of Initial Coin Offerings (ICO). The first 8 months of 2017 have seen 168 start-ups raise over $2.4 billion to get their projects underway, according to research reports. With an average ICO generating around $14.2 million worth of cryptocurrencies, the $100 billion nascent industry has unsurprisingly drawn a lot of interest of late. In fact, more than twice as many companies held their ICOs in the months of July and August than did in the first 6 months of the year. It has, therefore, become very hard to keep up with the latest developments and projects in this fast-moving world.
ICOBox fulfills the need in the market for a service that helps companies set up their ICOs from start to finish. It provides fixed-price SaaS solutions including, but not limited to, marketing, legal, and technical services to those who seek to raise funding through ICOs for their products and services.
ICOBox CEO Mike Raitsyn explains:
ICOBox was launched with the idea that we will open up the process of ICO funding to a wider variety of entrepreneurs. It’s important to be able to combine the accountability of blockchain with the openness of IpTS when it comes to choices that ICOS token owners are empowered to make.
#ICOBox Advisor, @GaryBaiton, shares the preliminary results of #ICOS #ICO & gives insight into what's to follow: https://t.co/Mh9zI7W5ZW
— ICObox (@icobox_io) September 16, 2017
ICO For ICOs
ICOBox held its own token sale from August 15 to September 15 and raised over 3933 BTC (~$14.6 million) in ICOS tokens. Token holders gained early access to the best ICO tokens for up to a 75% discount at minimal risk. This gives them the opportunity to back those creative minds who are working on truly brilliant projects that lack proper funding. Over 3000 applications have been submitted, ICOBox aims to put up ICOs for 800 projects over the next 12 months and up to 78 of which will be selected for funding after screening for quality by experts and token holders.
Co-Founder, Nick Evdokimov, says:
The ICO market has evolved and now more often than not ICOs are put up by fully operational and profitable ventures. The era of blockchain projects put up with only blockchain audience in mind have given way to the era of hybrid projects that use blockchain to optimize existing business models.
Token Exchange Platform
ICOS tokens will be issued from September 22 onwards and will be used to democratically select projects the token holders deem worthy of a free ICO. The most interesting and best projects will be brought to life using a voting system where one token counts as one vote. ICOBox intends to use 100% of funds raised through the ICO of ICOS to conduct prospective projects’ ICOs.
What has caught the fancy of many, however, is, ICOBox’s Interproject Token Swap platform (IpTS). This platform gives the ability to exchange ICOS token for other projects’ tokens at an average rate of 1:4 in value – essentially a 75% discount. Crypto-traders will be licking their lips at this offering as the current ICO rage makes the odds of profiting from this token substantially high in the short term.
Although most of the 20 plus ICOBox clients are undisclosed, three – Paragon, DSPlus, and TokenStars – have been announced publicly. ICOBox offers another proposition to their token holders: exchange the ICOS tokens at face value for any of the three existing self-paying clients. This means that for instance, 1 ICOS token worth $100, would get the token holder 100 Paragon Coins at a face value of $1 each.
Media Contact
Max Smetannikov, Irina Nazarova
MVG, ICOBox
Tel: +1 646 205 7030
Email: info@mvgmain.com
Website: www.icobox.io
Twitter: @icobox_io
What are your thoughts about ICOBox’s upcoming token exchange platform? How will it affect future token sales? Let us know in the comments below.
Images courtesy of ICOBox
