SONM ICO Raises over $42 Million in under 4 Days

Gautham | June 20, 2017 | 2:27 pm
bitcoin, blockchain, super computer

SONM ICO Raises over $42 Million in under 4 Days

Gautham | June 20, 2017 | 2:27 pm

There are numerous tasks that require massive amounts of processing power. But the access to such powerful machines doesn’t always come that easy, at least until now. SONM, a blockchain project is on a mission to solve the problem by creating a universal fog supercomputer that makes use of distributed ledger technology. In order to facilitate the project, the platform recently launched an ICO campaign, which was hugely successful.

According to reports, the SONM ICO which went live on June 15, 2017, raised a whopping $42 million in just four days. The increased interest in SONM cryptocurrency has also got the tokens already listed on two exchange platforms — HitBTC and EtherDelta. The company announced the ICO’s grand success in its recent press release.

The ICO saw a participation of about 8774 participants. Speaking about the successful crowdfund, the CEO of SONM Sergey Ponomarev said,

“SONM is delighted to announce the spectacular success of the ICO. We humbly thank our community for its support and participation in the ICO which raised over $30 million USD in the first 24 hours and went on to reach its cap within just days of opening.

With a renewed sense of vigor heightened by our community’s strong demand for our tokens, the SONM team is excited to progress the project which we believe will revolutionize the computing market.”

During the crowdsale, the cryptocurrency community purchased a total of 331,360,000 SONM tokens against the payment of various major cryptocurrencies including BTC, ETH, Dash and other major cryptocurrencies. Since the successful closure of the ICO, the platform will not be creating any new tokens.

The SONM project is hailed as the next big thing in cryptocurrency technology sector, making cheap fog supercomputing accessible to everyone by tapping into the collective processing power of smart devices that are part of the network. The project can support a range of applications, both simple and complex. Some of the listed services offered by SONM includes app development, scientific calculations, website hosting, video game server hosting, machine learning for neural networks, video and CGI rendering, augmented reality location-based games and video streaming services.

With the development of SONM project underway, people will soon be able to avail these services at a fraction of the cost.

Ref: Media Release | Image: NewsBTC
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