Blockstack Raises $ 50 Million Through ICO Supported by Winklevoss Brothers
Blockstack startup announced the successful completion of the ICO after raising $ 50 million and selling 440 million tokens. Writes about this CoinDesk.
The Blockstack ICO kicked off in November and has attracted a number of prominent investors including Union Square Ventures, Foundation Capital, Lux Capital, Winklevoss Capital, Blockchain Capital, and Digital Currency Group. A total of 800 people and organizations took part in the campaign.
The minimum investment was limited to $ 3,000. It is noteworthy that several investors have invested quite large sums in Blockstack, and all of them consider this investment as long-term. One of them invested $ 6 million, agreeing to block half of his tokens for 4 years. Other investors, who invested up to $ 3 million, blocked half of the assets for 3 years.
They probably followed the example of the Blockstack team. Initially, she will have access to $ 10 million. The rest of the money will be paid upon reaching certain key points. $ 20 million will be unlocked when the advisory board approves the release of a new version of the product, and up to $ 20 million – when the project reaches its final goal, namely, it will have 1 million verified users.
The Blockstack project was founded in 2013 and is engaged in the creation of a decentralized architecture that includes its own Internet browser, cloud infrastructure for data storage, a user identification system and other services..
Photo: rachanon cumnonchai
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